WazirX founder’s Shardeum raises $5.4 million in strategic funding
Shardeum, a Layer 1 blockchain deploying dynamic state sharding, has raised $5.4 million in fresh strategic funding.
The firm intends to use the raise to bolster its ecosystem as it prepares to launch its mainnet by the end of 2023. Participants in the round include Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group and Luganodes.
A Shardeum representative told The Block that the firm’s most up-to-date valuation is $248 million.
“This raise allows us to continue to prioritize decentralization through growing our community of participants worldwide through education and other key initiatives,” Shardeum Chief Growth Officer Kelsey McGuire said in a statement.
Past funding rounds
In March, Shardeum raised $5 million in strategic funding at a $250 million valuation, after having raised $18.2 million in seed funding from Spartan Group, Big Brain Holdings, Jane Street, Foresight Ventures and others in October 2022.
Shardeum was co-founded by Nischal Shetty, who also founded the large Indian crypto exchange WazirX.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Go to Source
Author: MK Manoylov
