Blockchain startup Arcana raises $2.3 M from Republic Crypto, others

Mumbai-based Arcana Network, a blockchain startup that offers decentralised storage and data privacy platform for Ethereum, has raised USD 2.3 million led by Republic Crypto and Woodstock Fund. Digital Currency Group (DCG), Hyperedge, Sahil Lavingia's shl.vc, Fenbushi Capital, LD Capital, and Paradigm Shift VC also participated in the round. The round also saw participation from a clutch of angels including Ganesh Swami, CEO of Covalent, Ajeet Khurana, Builders Tribe and WazirX CEO Nishal Shetty. Arcana will use the funds to strengthen its product portfolio, launch XAR tokens and hire more developers. The blockchain startup also plans to invest in community building.