NeoSwap AI, a Richmond company that offers an AI-powered multiperson exchange marketplace for non-fungible tokens, is now called Tulle.
The company said the rebrand is meant to reflect its sharpened focus on liquidity solutions for low-volume cryptocurrency markets like Solana and Bitcoin.
Tulle operates a technology stack, called TulleKit, that combines intent capture, prediction models and advanced trade-finding algorithms to facilitate multiparty swaps. The company says its approach boosts trading volumes in low-liquidity environments, significantly improving market efficiency.
"Rebranding to Tulle marks our commitment to solving the crypto industry's most pressing liquidity challenges," CEO John Ennis said in a statement. "Our platform empowers partners and contributes to the overall growth and stability of the Solana and Bitcoin ecosystems."
Last year, the company announced a $2 million pre-seed round led by New York’s Digital Asset Capital Management and Hong Kong’s AngelHub. Other participating investors included Denver’s Gossamer Capital, San Francisco’s Cavalry Asset Management, New York’s Stacks Ventures, Miami’s Dhuna Ventures and several unnamed angel investors.
The company said this week that pre-seed round climbed to $3 million — and that it plans to commence a new round of funding “shortly.”
NeoSwap was founded in March 2022. It was spun off from Ennis’ other company, Aigora, where Ennis worked as the founder and president from 2019 to 2022. When NeoSwap was founded, several other employees left the AI firm and went to work at NeoSwap.
