Shardeum Raises $5.4 Million in Strategic Funding Round
Shardeum, a Layer 1 blockchain utilizing dynamic state sharding, has successfully completed a strategic funding round, raising $5.4 million. The funds will be used to strengthen the ecosystem in preparation for the launch of its mainnet by the end of 2023. Notable participants in the round include Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group, and Luganodes. With this funding, Shardeum’s current valuation stands at $248 million.
Key Points:
– Shardeum secures $5.4 million in a strategic funding round.
– The funds will be used to support the ecosystem ahead of the mainnet launch.
– Participants in the funding round include several notable companies.
– The current valuation of Shardeum is $248 million.
– Shardeum’s Chief Growth Officer emphasizes the focus on decentralization and community growth.
This funding round follows a previous seed funding round where Shardeum raised $18.2 million from Spartan Group, Big Brain Holdings, Jane Street, Foresight Ventures, and others. Shardeum was co-founded by Nischal Shetty, who is also the founder of the prominent Indian crypto exchange WazirX.
Hot Take:
Shardeum’s successful funding round of $5.4 million highlights the growing interest and support for its dynamic state sharding blockchain solution. With the backing of prominent companies and a current valuation of $248 million, Shardeum is well-positioned to further its mission of decentralization and community expansion. The upcoming launch of its mainnet by the end of 2023 will be a significant milestone for the project. As the blockchain industry continues to evolve, Shardeum’s innovative approach may contribute to the advancement of decentralized technologies.
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