Shardeum, a Layer 1 blockchain that’s all about efficient sharding technology, has just completed a strategic funding round to the tune of $5.4 million. Now, that’s what I call a payday!
But who’s behind Shardeum, you ask? None other than Nischal Shetty, the founder of the big-time Indian crypto exchange, WazirX. Talk about a heavyweight in the crypto world!
So, what’s the plan for all that cash? Shardeum intends to use the funds to bolster its ecosystem and gear up for its mainnet launch later in 2023. It’s like they’re loading up their rocket ship, ready for blast-off!
The funding round saw participation from some big names in the crypto world, including Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group, and Luganodes. With backers like these, Shardeum is in good company.
According to a representative from Shardeum, the firm’s most up-to-date valuation is a cool $248 million. Not too shabby, right?
But this isn’t Shardeum’s first rodeo. Back in March, they announced the opening of this $5 million strategic funding round after having raised $18.2 million in seed funding from Spartan Group, Big Brain Holdings, Jane Street, Foresight Ventures, and others.
So, what’s the takeaway here? Shardeum is gearing up for some big moves in the crypto world. With a successful funding round under their belt and a mainnet launch on the horizon, they’re definitely a name to watch in the coming months!
