Shardeum, a scalable EVM-based layer-1 blockchain start-up has announced the close of a $5.4-million strategic raise with participation from Amber Group, Galxe, J17 Capital, JSquare, and TRGC, among others.
The Nischal Shetty-led team aims to leverage the additional funding to further support the growth of the ecosystem in the lead-up to the mainnet launch later this year.
Founded in 2022, Shardeum is a scalable EVM-based layer-1 blockchain deploying state sharding to keep gas fees low and transactions per second high as participation grows. So far, over 7.4 million transactions have taken place on the testnet, with over 820K accounts and over 230K contracts deployed.
“The completion of this strategic raise from key participants puts Shardeum in position to expand on our mission to cultivate a global and diverse community. Given Shardeum’s consensus design and use of dynamic state sharding, validator participation is highly accessible regardless of user access to computing resources,” said Kelsey McGuire, Chief Growth Officer at Shardeum.
The list of participants for this strategic raise includes Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group, Luganodes, Blockchain Ventures Hub, CryptoViet Ventures, Blue7, and more. The $5.4 million raise follows Shardeum’s $18.2 million seed round in October 2022 from backers such as Jane Street, Big Brain Holdings, Struck Crypto, The Spartan Group, Ghaf Capital, DFG, CoinGecko Ventures, Foresight Ventures.
Published on July 10, 2023
