Startups on Radix domains rake in $436 mn in VC funding

Radix an advertiser here at TheDomains decided to put together a report on all the venture capital raised by companies using their extensions.

.Tech was the most popular extension taking the top 7 spots.

Innoviz.tech raised $82 million, the .com parked and registered since 1996.

Tenx.tech raised $81 million, the .com forwards to Ten-X.com a developed website.

Shadow.tech raised $71.7 million, the .com is developed. If you want to use the keyword and the extension in .com ShadowTech.com forwards to a developed website, DirectDial.com.

Jan 23, Dubai: Radix, one of the world’s leading nTLD portfolio registries, today announced that at least 18 startups across its TLDs have received over $436 mn in VC funding between 2016-2017. These startups are spread across various verticals such as cryptocurrency, robotics, digital payments, IoT, satellite communication, etc. Some of these funded startups include Innoviz (innoviz.TECH), TenX (tenx.TECH), Direct Pay (directpay.ONLINE), Audacy (audacy.SPACE) and Shadow (shadow.TECH).

Radix owns the exclusive rights to operate 9 nTLDs, including .ONLINE, .TECH and .SPACE among others. Radix TLDs have most resonated with the global startup community and have attracted innovation-led businesses and brands from around the world to use them. The fact that these startups have raked in millions in VC funding is a proof that startups on Radix domains are backed by robust business models and futuristic technologies.

Speaking about why they chose .TECH for their product, Siddhartha Vinnakotem, CTO, Mobigraph Inc, xpresso.tech said, “As a technology company, we always wanted a URL that reflects who we are. With .TECH, we were able to get creative with the name since the extension clearly positions us as a technology innovator and really helps us getting identified. Having a .TECH domain adds to our image as an early mover or simply a cool company/product.” The startup had received $950,000 in funding in 2016.

Identifying the affinity of startups towards its nTLDs early on, Radix had launched the Startup League in 2016. This startup support program further accelerated the growth of startups that chose any of Radix TLDs to be their online identity. Speaking about the program, Suman Das, who leads the Startup League, said, “Our startup support program offers a comprehensive go-to-market package designed specifically to empower early stage startups. The program’s benefit suite includes upto 100% sponsorship discount on even exhibit booth fees, branded merchandise, media coverage and exposure to startups from investors and industry influencers.”

With these efforts and organic adoption of its nTLDs by startups, Radix has become one of the most popular nTLD portfolios for the global startup community.

Recently, at Web Summit in Lisbon, Portugal, the Startup League supported 50 startups on Radix TLDs. “Startups at Web Summit showed great interest in our TLDs, with some of them having switched over from a legacy TLD or a ccTLDs to a .TECH or .ONLINE because the nTLD perfectly fit with their brand. This helped them amplify their virtual presence with a more impactful and meaningful domain name.” added Suman Das.

Video: Startup League at Web Summit

Domain names such as brilliant.TECH, shadow.TECH and fleet.SPACE are meaningful names because of the respective nTLDs that they are on. These names also directly resonate with the startup’s brand without any compromise by them in their domain name. Thus, even early stage businesses find it worthy to invest in relevant and meaningful domain names.

Some of the global brands that have chosen Radix TLDs are Consumer Electronics Show (www.ces.TECH), Viacom (www.viacom.TECH), Emirates (www.emirates.STORE), Freedom of the Press Foundation (www.freedom.PRESS), Asgardia, the world’s first space nation (www.asgardia.SPACE) and Meredith Group (www.magazine.STORE). Last year, Google My Business purchased the domain name business.site which is being used by Google’s My Business program globally.

About Radix:

Started in 2012, Radix is the world’s 4th largest nTLD portfolio registry with over 3 million domains under its management. Radix is part of the Directi Group, which is currently valued at $1.4 billion. Through several years of active bidding, Radix has won the global and exclusive rights to 9 new internet domain extensions that include .ONLINE, .STORE, .TECH, .WEBSITE, .SPACE, .PRESS, .SITE, .HOST, and .FUN; as well as 1 re-purposed ccTLD, .PW. Radix’s annual revenue for the calendar year 2017 was over $12 mn.

Website Total Funding Amount

innoviz.tech $82,000,000.00

tenx.tech $81,120,000.00

shadow.tech $71,700,000.00

kika.tech $63,000,000.00

navya.tech $40,113,192.00

brilliant.tech $21,000,000.00

blue.tech $16,700,000.00

directpay.online $15,000,000.00

decision.tech $13,238,000.00

audacy.space $7,000,000.00

sourced.tech $6,000,000.00