June 16, 2023: Since we're still talking about Web3...

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Alex at TechTO
June 16, 2023

Profile: Tanya Lindsay and Surge Distributed Protocols

What does your company do?

Surge Distributed Protocols is at the forefront of the Web3 revolution, driving innovation and development through Decentralized Applications (DApps) that are changing the game.

We are the proud creators of CryptoMibs, a ground-breaking NFT gaming platform built on Ethereum and Polygon blockchains that are transforming the industry through interoperability.

What was the insight/inspiration that led you to launch it?

After spending over 15 years managing business transformations for large companies and seeing the many ways that centralized data and information engrains systemic inequalities, I just knew I needed to be part of the blockchain revolution. I believe peer-to-peer payments and micro-earning opportunities will, in time, help redistribute wealth and there is no better place to start than with gaming applications.

How has it been received by the market? Why do you think it has been so well received?

CryptoMibs focuses on creating unique gaming experiences through web3 interoperability and our pilot tournaments have had great success.

Our success stems from our efforts to include content from each of our partner communities into our platform so everyone can see themselves reflected while they play.

How did you know you were ready to found a company?

I started my career thinking that I wanted to climb the corporate ladder, but after working in the corporate world for 9 years I realized it wasn't for me. That's when I co-founded my first company which has been running successfully for the past 17 years.

Surge Distributed Protocols is my second company, and I feel I am in my element.

How did you meet your founders/know they were the right people to start a company with?

I met my co-founder while in the corporate world and after working together for a few years we knew we complimented each other and would be great at running our own company.

It's been 17 years, and there are always ups and downs but we're still going strong.

What has been the hardest thing on your journey so far?

Managing to have to wear too many hats to keep the lights on.

What are you trying to achieve over the next 12 months?

To establish CryptoMibs as a playground for brands with digital collectibles. We want to onboard 24 brands while luring web2 casual gamers onto web3 through our mobile apps.

What advice do you wish you had been given prior to launching?

That we needed a much, much longer runway.

Who are the Canadian startups you like in your market?

  • Doodles - a lens into the universe

  • Run as You Are - designing new running experiences through technology

Learn more about Tanya and Surge here

Tanya spoke at our recent TechTO: Web3 Event about the Web3 space and what to expect

Quick Takes: A rumor that proved to be true

So… the big question remains…

What rumor proved to be true?

Twice this year, we analyzed rumors that Cohere had raised a new round. And finally, they announced a new one.

What are the details on the round?

They announced a $270m USD round led by Inovia Capital with participation from Nvidia, Oracle, Salesforce Ventures, DTCP, Mirae Asset, Schroders Capital, SentinelOne, Thomvest Ventures, and Index Ventures.

The round is rumored to value the company between $2.1b and $2.2b.

What was right about previous rumors?

The amount raised was in the ballpark of the rumors as well as the participation of Nvidia. The valuation ranges seem to be off as the first rumor had it pegged at $6b.

Interesting previous rumors had Google participating in the round. If they did, they did not disclose it.

What is interesting about the investors in this round?

  • Inovia Capital was the lead - nice to see a Canadian fund leading the round in a potential Canadian champion

  • Nvidia - they are benefiting from the sale of GPUs to generative AI and would like to see more competition

  • Salesforce Ventures - they just doubled down on AI and increased commitment to AI investments

  • Oracle - this is a surprise to me

Also what is noticeable is the lack of crossover funds like Tiger, Coatue or others.

A year ago they would be in this round.

How is Cohere competing with OpenAI?

Cohere is focusing on enterprise customers who want to adopt AI but have specific concerns about privacy and legal issues. They are software first but are providing professional skills.

Where are we in the AI hype cycle?

Still early as we are seeing many many enterprises rushing to adopt it and every day there are more announcements about AI advancements

Takeaway for the community?

Where there is smoke there is fire.

With new tech platforms, there will be many vectors to compete. It looks like OpenAI has a lead on consumers but Cohere is focused on enterprises. Both of these are horizontal plays with many vertical plays emerging.

Catch up on the latest episode of TechTO Quick Takes wherever you watch or listen to your news. There was lots more to unpack from the past few weeks, and the team covered some of the hottest topics, raises and interesting news that Canadian Technologists need to know.

WATCH THE LIVE STREAM ON YOUTUBE

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Want to ensure you’re on the list for the biggest party of the summer? We’ve got you covered

TechTO Talent

Why is this cool? Doodles is here to color the world and show everyone that anything is possible with the power of their imagination. Already a leading native in Web3, Doodles’ mission is to redefine what it means to be a world-class entertainment brand. In this role, you will join the engineering team on the next iteration of Doodles while reporting directly to the VP of Engineering. You will be responsible for making every user interaction across their applications an impactful and polished experience.

Why is this cool? Buf is building a new paradigm for APIs. They create both open-source and commercial software that enables teams to create, maintain, and consume their Protobuf APIs systematically. In this role, you will help them by delivering a leading developer experience for their products.

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