Cardashift
Cardashift is a community-run launchpad that raises funds, builds and accelerates startups that are solving social and environmental issues.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
$1.5m | Seed | ||
| Total Funding | 000k | ||
| USD | 2023 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Cardashift, now operating as Erable, was established in September 2021 by co-founders including Adrien Hubert and Vincent Katchavenda. The project originated from Smartchain, a French crypto company co-founded by Hubert, with the goal of leveraging blockchain to finance impact-driven startups. The initiative was a collaborative effort between three specialized firms: Smartchain for blockchain development, Matters for product design, and Stim for innovation acceleration.
The company's primary offering was a community-run launchpad on the Cardano blockchain designed to fund, build, and accelerate startups addressing social and environmental problems. The business model centered on its utility token, $CLAP, which community members used to vote on and invest in pre-selected, high-potential impact projects. Cardashift intended to generate revenue through fees on token purchases made with non-CLAP cryptocurrencies and by offering paid acceleration services to the funded projects. For instance, a 10% fee or a minimum of $50,000 from the funds raised was designated for a mandatory acceleration layer.
In January 2022, Cardashift announced it had raised nearly $10 million through an Initial Coin Offering (ICO), attracting 4,150 investors. The ICO followed a private sale in late 2021 that secured $1.5 million. The platform's process involved screening project applications, community voting to select finalists, and then an Initial DEX Offering (IDO) for the chosen startups. However, the initial launchpad platform did not materialize as planned. The company later pivoted to an NFT marketplace model where NFTs would represent assets of the supported companies. Over its operational period, Cardashift supported three companies: Pyxo, Révolte, and Homecycle. The company has since rebranded to Erable and announced plans for the $CLAP token to migrate from the Cardano blockchain to Polygon.
Keywords: Cardashift, Erable, impact investing, blockchain finance, Cardano launchpad, crypto fundraising, community-run launchpad, social impact startups, environmental startups, CLAP token, Initial Coin Offering, Adrien Hubert, Vincent Katchavenda, Smartchain, sustainable development, blockchain for good, crypto launchpad, impact projects, tokenomics, decentralized autonomous organization, Pyxo, Révolte, Homecycle