Dstlry, a well known name when it comes to next-generation comics publishing and digital collectibles said it has raised $5 million in its latest seed funding round, VentureBeat reported. With this, the total funds it has raised since its inception back in 2022 to $7.4 million. The company said with the fresh funds it has received, it plans to secure new content deals besides enhancing Dstlry’s digital marketplace with new and better features. The company also stated the additional funds is vital to meet its future goals and ambitions.
“This latest investment and the addition of Gregory’s knowledge and expertise to our board is hugely significant for Dstlry and our ambitions going forwards. Our unique creator-owned ethos means we are bringing the best creators onto our platform and enabling them to generate new revenue streams through digital collectibles and other activations – many of which fans got their first taste of at Comic-Con in San Diego this month,” said David Steinberger, CEO, Dstlry.
The latest $5 million funding round is led by gaming venture capital firm 1AM Gaming along with several international publishers such as Kodansha USA and Groupe Delcourt. Among the other investors include video game expert John Schappert, producer Lorenzo di Bonaventura, and tech strategist Mike Vorhaus. Managing director at 1AM Gaming, Gregory Milken is also on the board of directors at Dstlry. This along with the other investors from a diverse field brings a wealth of experience to Dstlry and its operations.
Dstlry has also been at the San Diego Comic-Con event held recently where its presence was marked by a series of notable achievements. That includes receiving several Eisner Awards while all of its products got sold out as well. It received Eisner Awards for Best New Series and Best Anthology. It also went on to unveil new advanced tech which it believes can revolutionize the digital collectibles business as a whole. That is not all as it also announced giving away 3 percent of its equity to the creators to spur growth and participation of the best in the business.
Steinberger also stated how creators can be great in their respective fields and come up with excellent literary works but lack the skills needed to market the same. Publishers further complicate the scenario as it takes the lion’s share of the money it makes while paying only a fraction to the creators. Dstlry however said it plays a fair game, giving the creators their dues which include upfront fees and royalties as well as company equity as well. It also promises a transparent process that does not include any hidden fees.
Apart from these, Dstlry also introduced innovative patent-pending technology such as Dstlry Remarques and Dstlry Proof. Dstlry Remarques enabled creators to add their personalized digital signatures to their comics, something that further enhances its appeal all the more. Dstlry Proof, on the other hand, allows for verification via QR codes. This ensures a greater sense of ownership while also enhancing the value of the product as well.
When asked if comic books in future are going to be AI-generated, Steinberger expressed skepticism about AI proving to be as efficient as humans in creating comics. “I do think there’s some experimentation out there. But honestly, I think all the AI is just going to lead to a higher value for verification of real human made stuff. We know with our creators they live and breathe and make their money from creation. I think there are lots of great tools for AI to you to be used on are for great use. But making comic books I think is a personal and human kind of thing,” said Steinberger.
Steinberger has been the co-founder of Comixology which he had sold off to Amazon. He later founded Dstlry in 2022 and has a team of 10 to run the company. With the present round of funding, Steinberger is looking to further add momentum to the company’s growth, have more creators onboard, and drive innovations in the space.