CollX has raised $10 million in Series A funding, led by Brand Foundry Ventures and 114 Ventures, with participation from other investors including Next Coast Ventures. The company, which has grown to over 3 million users, aims to capitalize on the expanding U.S. collectible cards market. CollX provides tools for scanning and trading cards, and its CEO noted the app has 400,000 monthly active users. The company has introduced new revenue streams, including partnerships with Professional Sports Authenticator for card grading and live shopping platforms.
The collectible cards market in the U.S. is showing promising signs of expansion and will grow by several billion in the next few years, according to multiple reports.
These grading companies assess the card's condition including corners, edges, and centering and give it a score. The graded cards with good scores often get high appreciation as compared to ungraded cards.
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