Fabric
Facts
- HQ
- Bellevue
- Sectors
- E-commerce, Retail, B2B, SaaS, APIs, Technology
- Stage
- Series C+
Former Fabric CFO Nevin Shetty Convicted of Wire Fraud for Diverting $35M to Crypto Business
Nevin Shetty, former CFO of Seattle startup Fabric, was convicted of wire fraud for diverting $35 million of company funds into a crypto side business, resulting in near-total loss. He faces sentencing in February 2026 and could receive up to 20 years in prison.
Seattle VC Firm Ascend Raises Third Fund to Back Early-Stage AI Startups After $25M Second Fund in 2023
Seattle venture capital firm Ascend is raising its third fund to invest in early-stage tech startups focused on vertical AI and infrastructure, following a $25 million second fund in 2023. Founder Kirby Winfield launched Ascend in 2019 and the firm primarily supports Seattle-area founders with investments ranging from $250,000 to $750,000.
Seattle Startup Loot Labs Raises $6M Seed Round Led by BITKRAFT Ventures to Expand Boxed.gg Digital Collectibles Platform
Seattle-based Loot Labs raised $6 million in a seed round led by BITKRAFT Ventures to expand its digital collectibles platform Boxed.gg, including a beta for trading Counter-Strike 2 weapon skins. Boxed.gg offers a gamified marketplace for collectible cards like Pokémon and Magic: The Gathering, allowing digital purchases and physical merchandise fulfillment.
People
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Umer Sadiq Executive, CTO
