CollX Raises $5.5M Seed Round, Nears Top Of Charts For Sports Apps
CollX has closed on a $5.5 million seed round as the sports trading card startup nears the top of the charts among all sports apps.
The round was led by Austin-based Brand Foundry Ventures, with participation from Next Coast Ventures, FJ Labs, 114 Ventures, Ben Franklin Technology Partners and Morrison Seger Venture Capital Partners. Angel investors in the company include David Adelman, the founder of Darco Capital and co-owner of the 76ers, as well as Nat Turner, the CEO of leading collectible company Collectors Universe.
“Getting folks on board who know this industry quite well is a validation of everything we’ve been doing and they continue to see the new growth we’ve had,” said CollX co-founder and CEO Ted Mann.
The Philadelphia-based sports card startup allows users to scan their trading cards and, using computer-vision AI technology, searches through a database of millions of cards to tell users how much their card is worth. Some 100 million cards have been scanned to date.