The startup of the founder of the Indian exchange WazirX raised $5.4 million

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venture_investments-min

Sharding-focused blockchain startup Shardeum has raised $5.4 million in a strategic funding round.

The startup of the founder of the Indian exchange WazirX raised $5.4 million
Data: Twitter.

According to The Block, Shardeum’s valuation has reached $248 million.

“This investment will allow us to prioritize decentralization while expanding our community around the world through training and other key initiatives,” said Kelsey McGuire, head of development at Shardeum.

The funding round included Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group, and Luganodes.

In October 2022, the startup raised $18.2 million in seed funding at a $199 million valuation.

The developers plan to launch the main Shardeum network at the end of 2023.

The project is led by the founder of the Indian exchange WazirX Nischal Shetty and blockchain architect Omar Saed.

Recall that in June the volume of venture capital transactions in the crypto industry fell by 71%.

On March 7, Ethereum startup Scroll raised $50 million at a $1.8 billion valuation. Web3Go previously completed a $4 seed funding round led by Binance Labs.

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