According to The Block, Web3 tools startup Nefta completed a $5 million seed round at a valuation of $32.5 million, led by Play Ventures with $2.5 million, and Polygon Ventures, SevenX Ventures, Sfermion and Picus Capital participated. Its valuation has risen 225% in the past eight months, according to its founder and CEO Geeshan Willink. Nefta raised $1 million in pre-seed funding from Picus Capital last June at a $10 million valuation at the time. The round is intended to double the size of the team, and Willink is currently hiring across functions including business development, account management and technology. Founded in 2022, Nefta aims to provide tools for businesses looking to enter and grow in the web3 space. These tools include custom APIs, software development kits, and white label services to help businesses integrate digital assets, multi-chain wallets, and custom marketplaces.