• Grintafy, a Saudi Arabia-based sportstech company, has received an undisclosed investment from Adaverse.
• Grintafy, founded in 2019 by Majdi Allulu, is a football talent discovery platform that serves prominent football groups in the Middle East and Europe.
• The investment will help Grintafy expedite its Web3 transformation.
• This investment follows Grintafy's previous support from Chiliz in March 2024. Grintafy raised $2.1 million in a bridge round in 2022 from Aramco's venture capital arm, Wa'ed, along with other investors.

Press release:

Adaverse, the leading ecosystem accelerator and seed fund, today announced its strategic investment in Grintafy, the Middle East's premier sports tech company. This partnership marks a significant step in Grintafy's transition from Web2 to Web3, leveraging blockchain technology to revolutionise talent discovery in football.

Grintafy, established in 2019, has rapidly grown to become the go-to platform for amateur footballers, boasting over 2 million users across its ecosystem. The company's innovative approach to creating digital CVs for players has garnered partnerships with federations, ministries, and both local and international clubs.

Vincent Li, Managing Founder of Adaverse, expressed enthusiasm about the investment: "Grintafy's vision aligns perfectly with our mission to support transformative Web3 projects. Their established presence in the sports tech industry, combined with their forward-thinking approach to blockchain integration, presents an exciting opportunity for growth and innovation in the Web3 space."

The investment is set to accelerate Grintafy's Web3 transition. Adaverse will provide crucial support in product development, particularly in integrating Web3 native features and enhancing user experience. Additionally, the partnership will facilitate connections with global resources, including football clubs and media networks, and assist in future fundraising efforts.

Majdi K. Allulu, founder of Grintafy, commented on the partnership: "Adaverse's investment and expertise in the Web3 ecosystem will be instrumental in our evolution. We're excited to explore how blockchain technology can enhance our platform, providing even more value to our users and partners in the football industry."

This investment follows Grintafy's previous backing from Chiliz, a major blockchain sports entertainment company, further solidifying its position at the intersection of sports and technology. The company plans to leverage these partnerships to expand its global footprint and introduce innovative features that will redefine talent discovery in football.

As the first Web3 VC fund and accelerator in Saudi Arabia, Adaverse continues to play a pivotal role in nurturing the next generation of Web3 startups. With a portfolio of 60 investments across 13 countries, including 20 accelerated startups, Adaverse is at the forefront of the Web3 revolution in the region.