Loupe Tech Inc., a new sports card breaking app, has closed $3 million in funding since its October launch, with a first round led by Upfront Ventures. The company says entrepreneur and collector Nat Turner has also contributed capital aimed at growing the business.
Loupe is a live e-commerce streaming platform built for sports card collectors. It offers a unified platform for breakers to live stream and sell sealed packs and single cards to collectors who are able to interact with sellers in real time. All of the activity takes place inside a single app.
“Demand for sports cards has skyrocketed over the past 12 months and it’s clear the hobby wasn’t prepared for the surge in buyers,” says Loupe founder and CEO Eric Doty. “Our mission is simple: We want to bring modern technology to the card collecting hobby. The initial reception to Loupe has been so tremendous that we’re confident this segment has been itching for its own dedicated streaming platform. We’re fortunate to have partnered with fantastic investors, like Upfront Ventures, who share that vision with us at an early stage in our company’s history.”
Loupe is a free app. It’s available for iOS devices and plans to expand to Android soon.
Loupe Tech, Inc. recently relocated to the Miami area from Los Angeles with most of its team coming from backgrounds of video games and live video tools. The company says it “intends to aggressively hire in the coming months to support the service’s faster-than-projected growth.”
“The surging consumer interest in sports collectibles, live interactive video content, and new commerce platforms make Loupe a special opportunity,” said Greg Bettinelli, Partner at Upfront Ventures. “Eric and his business are combining the three elements of breakout marketplace success — current segment fragmentation, passionate fandom, and product scarcity — and we are thrilled to support him on this journey.”
They also plan to “expand on the service by developing a host of user-requested features, signing high-profile sellers, and inking strategic partnerships in the pro sports space.