Thursday, March 28, 2024
HomeBusinessBiconomy Raises USD 9 Mn In Funding From DACM, Others

Biconomy Raises USD 9 Mn In Funding From DACM, Others

The round also saw strategic investments from Coinbase, Bain Capital, Coinfund, NFX, True Ventures, Proof Group, Ledgerprime, Primitive Ventures, Genblock, Rarestone Capital, Huobi Innovation Labs, and Capital Partners, according to a statement

Biconomy, a blockchain transaction platform, on Wednesday said it has raised USD 9 million (about Rs 67 crore) in funding, led by DACM, Mechanism Capital, and others.

The round also saw strategic investments from Coinbase, Bain Capital, Coinfund, NFX, True Ventures, Proof Group, Ledgerprime, Primitive Ventures, Genblock, Rarestone Capital, Huobi Innovation Labs, and Capital Partners, according to a statement.

The round also saw participation from Stani of Aave, Hasu, Stephane Gosselin from Flashbots, Prabhakar Reddy from Falcon X, Arbitrum founders, and others apart from existing investors, Woodstock Capital, Eden Block, and Zee Prime. To date, it has raised a total of USD 10.5 million. The new round of funding will enable Biconomy to further propel its multi-chain transaction infrastructure for next-generation Web 3.0 applications, the statement said.

‘The current crypto experience is complicated. Each interaction with a decentralized application is a complicated blockchain transaction that the mainstream users don’t understand. If we are able to simplify these complexities, we believe we will be able to onboard the next billion users into the crypto ecosystem,’ Biconomy co-founder Aniket Jindal said.

PTI

Source: Business World

RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments