Tag: Funding Rounds

Central Bank Veteran’s Blockchain ‘E-Money’ Startup Raises $2 Million

Central Bank Veteran’s Blockchain ‘E-Money’ Startup Raises $2 Million

Coin Desk
Ethereum development studio ConsenSys has participated in a $2 million seed funding round for Iceland-based blockchain startup Monerium, the firm announced Friday. The round was led by early-stage venture capital firm Crowberry Capital and included participation from private investment firm Hof Holdings, both also based in Iceland. Founded in 2016, Monerium is a fintech startup led by, among others, Jon Helgi Egilsson, former chairman of the Central Bank of Iceland. The firm is developing a solution for transacting fiat currencies over blockchains, what it calls “e-money.” The seed funding will be used to accelerate development of its services. Monerium ultimately aims to issue “asset-backed, redeemable and regulated e-money” over blockchains once a licensed institution, saying its product
Peter Thiel Backs $2.1 Million Round for Crypto Investment Startup Layer1

Peter Thiel Backs $2.1 Million Round for Crypto Investment Startup Layer1

Coin Desk
PayPal co-founder and noted venture capitalist Peter Thiel has backed a $2.1 million seed round for crypto investment startup Layer1, the firm announced Wednesday. Other investors in the round include Digital Currency Group, institutional investor Jeffrey Tarrant and more. Layer1 is a crypto investment and engineering infrastructure platform. However, it also acts as a kind of tech-focused fund in that it backs “promising” blockchain protocols and then builds technology to support their growth. The firm takes a particular focus on “programmable money and store-of-value applications,” which it sees as having the most potential for value creation. Layer1’s co-founder Alexander Liegl said: “Cryptocurrencies, as open-source protocols, offer the unprecedented opportunity for companies … to mean
Tim Draper Invests $1.25 Million in Bitcoin Payments Processor OpenNode

Tim Draper Invests $1.25 Million in Bitcoin Payments Processor OpenNode

Coin Desk
U.S.-based venture capitalist Tim Draper has invested $1.25 million in OpenNode, a bitcoin-only payments processing startup. Announcing the seed round on Tuesday, OpenNode told CoinDesk that the raised funds will be used to expand its team and beef up its legal and compliance efforts. The firm claims to process “instant” and “risk-free” bitcoin payments for businesses, generating revenue by charging a 1 percent for transactions. OpenNode taps the lightning Lightning network – effectively a transacting layer on top of bitcoin – which is being developed in an effort to enable faster and cheaper transactions that can net-settle to the bitcoin blockchain. OpenNode said in a statement that since the start of its platform, the capacity of the lightning network has grown over 15,000 percent to 45
Coinbase Ventures Backs $3 Million Round for Trading Data Startup Nomics

Coinbase Ventures Backs $3 Million Round for Trading Data Startup Nomics

Coin Desk
Crypto data startup Nomics just secured $3 million in funding from investors including Coinbase Ventures. The company announced Tuesday that the Series A investment will be used to flesh out its engineering team, as well as continue working to index 95 percent of all data pertaining to how crypto assets are traded. Led by Arthur Ventures, the round also saw CoVenture Crypto, Digital Currency Group, BitGo co-founder Ben Davenport, CityBlock Capital, King Capital, PolyMath and TokenSoft participating. Nomic CEO and co-founder Clay Collins told CoinDesk that, at present, almost every employee at the startup works on development full-time. That reflects the immense amount of data Nomics is trying to index, he said, explaining: “While it’s a fairly trivial task to price (and have listings for)
Novogratz’s Galaxy Digital Backs $4 million Raise for Crypto-Lender BlockFi

Novogratz’s Galaxy Digital Backs $4 million Raise for Crypto-Lender BlockFi

Coin Desk
BlockFi, a startup that offers U.S. dollar loans against crypto collateral, has raised $4 million in its latest round this year. The New York-based firm announced Wednesday that the funds have been raised in convertible debt investments in a round led by Akuna Capital, with participation from Mike Novogratz’s Galaxy Digital Ventures, Anthony Pompliano’s Morgan Creek Digital, Susquehanna Government Products and Fidelity-linked Devonshire Investors. With the new funds, BlockFi said it plans to grow its team and launch new products, including an interest-earning crypto savings account (slated for Q1 2019), a portfolio line of credit and crypto-backed credit cards. The firm currently provides dollar-denominated loans against bitcoin, ether and litecoin. “We believe debt and credit markets in t
Fidelity, Bitmain and More Invest $27 Million in Crypto Trading Platform ErisX

Fidelity, Bitmain and More Invest $27 Million in Crypto Trading Platform ErisX

Coin Desk
Crypto trading platform ErisX has closed a Series B funding round that raised $27.5 million, the company said Tuesday. Bitmain, ConsenSys, Fidelity Investments, Nasdaq Ventures and Monex Group participated in the funding round, investing in the new derivatives and digital asset trading platform for the first time. ErisX, which is being built by derivatives market provider Eris Exchange, was previously announced as a platform for trading a number of cryptocurrencies, as well as bitcoin futures. CTC Group Investments, Digital Currency Group, DRW Venture Capital, Pantera Capital and Valor Equity Partners also participated in the round, on top of previous investments in the platform. The company, which has also seen backing from brokerage TD Ameritrade, aims to be a Commodity Futures Trading C...
ConsenSys Backs $2.1 Million Funding Round for Ethereum Privacy Startup

ConsenSys Backs $2.1 Million Funding Round for Ethereum Privacy Startup

Coin Desk, ETHEREUM
ConsenSys Labs has led a $2.1 million seed round for AZTEC, a startup that’s working to make ethereum transactions private so financial institutions can comfortably use the second-largest blockchain. Announced Thursday, other investors in the round include Entrepreneur First, Samos Investments, Jeffrey Tarrant (Mov37) and Charlie Songhurst. AZTEC, created by the mathematician Tom Pocock and nuclear physicist Zachary Williamson, uses zero-knowledge proofs (also known as zk-SNARKs), the cryptographic technique popularized by the zcash currency, to enhance privacy on a shared ledger. But the startup claims its protocol is “twice as efficient as other known technologies on the network.” The protocol is intended to be used by banks, Pocock told CoinDesk, and they will be able to utilize the tec
Coinbase Backs Security Token Startup’s $12.7 Million Funding Round

Coinbase Backs Security Token Startup’s $12.7 Million Funding Round

Coin Desk
Security token startup Securitize announced it has raised nearly $13 million in a Series A funding round Monday as part of its mission to digitize traditional securities products on a blockchain. Led by Blockchain Capital, the equity investments were made to help the company bring on “knowledgeable investors” as it prepares for a security token offering, co-founder and CEO Carlos Domingo told CoinDesk. The company further aims to streamline its investor relations, build up liquidity and compliance efforts, and maintain capital formation. With the deal, Blockchain Capital co-founder and managing partner Brad Stephens will join Securitize’s board of directors, the startup said. Coinbase Ventures, Ripple’s Xpring, OKEx’s OK Blockchain Capital, Global Brain and NXTP also participated. Domingo
Bain Capital Backs $2.25 Million Round for Bitcoin Rewards Startup Lolli

Bain Capital Backs $2.25 Million Round for Bitcoin Rewards Startup Lolli

Coin Desk
Bitcoin rewards platform Lolli has raised $2.25 million in seed funding from investors including Bain Capital Ventures and Digital Currency Group. Also participating were Version One, Forerunner Ventures, 3K VC, SV Angel, FJ Labs, Gokul Rajaram, Alex Chung, Brian Sugar and others, the firm said Wednesday. Lolli is a rewards platform that allows users to earn bitcoin when they shop at the company’s partner brands. The firm says it now has arrangements with over 500 brands, including Hilton, Marriott, Walmart and Forever 21, that will give users “up to 30 percent back in bitcoin,” its website claims. “We have over a 9 percent conversion rate and have already generated over 6 figures in sales for our merchants,” said Alex Adelman, CEO and co-founder of Lolli, adding that the platform has crea
Crypto Mining Tech Firm Bitfury Closes $80 Million Funding Round

Crypto Mining Tech Firm Bitfury Closes $80 Million Funding Round

Coin Desk
Cryptocurrency mining technology firm Bitfury Group has just closed an $80 million funding round led by venture capital firm Korelya Capital. Also participating in the private placement were investors such as Mike Novogratz's Galaxy Digital, Macquarie Capital, Dentsu Inc., Armat Group and others, according to a Bitfury press release. Advising Bitfury on the funding was investment bank Bryan, Garnier & Co.. George Kikvadze, Bitfury's executive vice chairman, said in the release: "With a half billion dollars in revenues, Bitfury is the leading blockchain B2B global technology infrastructure provider at the corporate and government level. This private placement will take our corporate governance to the next level, broaden our financial strategic options, and ideally position us for our n