IYK, abbreviated for If You Know, has announced securing $16.8 million in a seed funding round, led by a16z, its alma mater. The funds raised will be utilized to launch the IYK platform and onboard a larger community of creators and users. a16z expressed their excitement to support IYK's vision of expanding the ecosystem by bringing in more creators and brands. Currently, IYK hosts a hundred creators and serves brands like Adidas and Johnnie Walker.

Established in 2021, IYK has made significant strides in bridging the gap between physical and virtual worlds, facilitating better connections between brands and their fans, and fostering higher community engagement. Besides a16z, the seed round saw participation from Collab Currency, 1kx, Lattice Capital, and others. Notably, IYK was previously part of a16z Crypto Startup School, a 12-week accelerator program that nurtures early-stage startups. Successful graduates receive a $500,000 investment in exchange for 7% equity.

Ryan Ouyang, the co-founder of IYK, refrained from divulging details about the venture's valuation and capital structure. Regarding the timeline of capital raising, no specific information was disclosed. IYK encompasses creators from various industries, including music, fashion, and art, offering a digi-physical community-building experience. Its products include NFC chips for tokenizing physical products, alongside developer APIs and modules.

What sets IYK apart, according to Ryan, is its user-friendly experience selection without the need for coding, although collaboration with developers for customization is an option. The company aims to hire its first business development executive and expand the engineering team shortly. The Crypto Startup School by a16z specializes in the Web3 domain, offering lectures, mentorship, and direct industry connections for startup members.