Indian entrepreneur and founder of crypto change, WazirX, Nischal Shetty is elevating $18.28 million via a seed funding spherical for his new blockchain startup, Shardeum.
According to an inside supply associated to the matter, the talks for a seed funding spherical for Shardeum are within the superior phases. The fundraising spherical will take up Shardeum’s valuation at round $200 million.
The funding rounds embrace the participation of quite a few buyers corresponding to Spartan Group, Struck Crypto, Big Brain Holdings, and Cogitent Ventures.
Nischal Shetty agreed with the information of the continued fundraising spherical.
“We are currently working with top VCs in an ongoing funding round. While it has not yet closed, we expect to see great support for Shardeum and our mission of making blockchain technology faster, smarter, and easier to use for everyone,” he acknowledged through a spokesperson.
He added, “We look forward to sharing more details on how we’re working to turbocharge the expansion of our team and accelerate Web3 adoption for developers and their users.”
Shardeum is growing a sharded blockchain supported by Ethereum Virtual Machine (EVM), which is able to break up the blockchain into small shards for sooner execution of transactions. It strives to realize infinite scalability, decentralization, and safety.
Compiled by Coinbold