CollX Raises $5.5M To Scan And Evaluate Value Of Trading Cards

Card collectors often dispute how much their cards are worth. New Jersey-based CollX provides a free iOS and Android app to card enthusiasts that allows them to scan their trading cards and get value in return.

Launched in January last year, the app has now more than 600,000 users who have scanned more than 100 million cards. CEO Ted Mann told TechCrunch over a call that the company has made a proprietary database of more than 20 million cards ranging from Pokémon to sports that helps the CollX app to determine a card’s value.

The idea came from the time when Mann’s son Charlie started collecting cards during the pandemic but found it hard to determine their value. The father-son duo tried many tools and forums, including eBay to determine the prices of these cards, but felt that it was a tedious task and decided to build an app.

CollX has raised a seed round of $5.5 million led by Brand Foundry Ventures with participation from Next Coast Ventures, FJ Labs, 114 Ventures, Ben Franklin Technology Partners and Morrison Seger Venture Capital Partners. The company has a long list of angel investors, including Nat Turner, DJ Skee, David Adelman, Darren Lachtman, Brad Stadler, Ryan Schinman and Robert J. Moore.

Read the full article here