Proskauer Leads NFT Startup Doodles on $54 Million Fund Round

Proskauer Rose said it served as primary legal adviser to Doodles on the non-fungible token startup’s funding round, which was led by Reddit co-founder Alexis Ohanian’s venture firm Seven Seven Six.

Proskauer said the round, Doodles’ first ever, also had participation from 10T Holdings, Acrew Capital, and FTX Ventures, and closed with $54 million. It valued the company at $704 million.

Launched in October 2021, Doodles has generated nearly $500 million in sales, making it one of the most valuable NFT collections on the market, according to a statement.

Doodles plans to use financing from the fundraise to expand through ...