VC Fund Investments
Nischal Shetty founded blockchain network Shardeum raises $5.4-M
Founded by Former WazirX Founder & CEO Nischal Shetty and blockchain expert Omar Syed, Zug, Switzerland- and India-based Layer 1 blockchain network Shardeum has raised USD 5.4 million from Amber Group, Galxe, J17 Capital, JSquare, and TRGC. The fresh capital will be used to support the growth of the ecosystem before the launch of mainnet, which is when a blockchain protocol gets fully developed and is up for public use. The funding would also allow Shardeum to expand to cultivate a global and diverse community. Mainnet is a distributed, operational digital network that serves as the primary infrastructure and a foundation for the network for a particular cryptocurrency. The round comes nine months after Shardeum raised USD 18.2 million in a seed round at a valuation of USD 200 million from several prominent investors.
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