CasperLabs is a startup that creates an open source blockchain platform with the goal of achieving network expansion without sacrificing decentralization. The company raised $14.5 million in Series A financing.
The current round of financing was led by Terren Piezer, a financier called Zerib, on Wall Street, through his privately held company, Acuitas Group Holdings. Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners, Blockchange Ventures, Hashkey Capital and Distributed Global also participated in the financing.
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CasperLabs said in a statement on Tuesday that new funding will be used to accelerate product development and attract more engineers to join.
The startup was officially launched in February. Eladan Foundation researcher Vlad Zamfir served as chief consensus agreement architect. Vlad Zamfir received funding from Casper Labs but will not be an employee of the company. All of its research remains open source. . The goal is to create a new blockchain based on a PoS consensus protocol—specifically, Zamfir's “Design Period Correct (BC)” Casper PoS.
The company said it is working to address the "trilemma of scalability, decentralization and security, but it is also friendly to developers in building and running applications."
According to Mrinal Manohar, co-founder and CEO of ADA-based ADAPtive Holdings, CasperLabs expects to release several "interesting" technology updates in the coming months.
Leading agent Piezer said:
“From the beginning of the cryptocurrency and blockchain, I have been focusing on and researching the cryptocurrency and blockchain areas. I have been waiting for a company that can build on the speed, security and scalability of next-generation platforms. A strong, decentralized public chain."
“The scalability of products and companies is the main driver of value creation. The largest companies have always been industry leaders.”
Financing scale is lower than early expectations
However, it is worth noting that, according to blockchain media The Block reported in January this year, CasperLabs CEO Mrinal Manohar said in an interview that the company has received a $20 million financing commitment, Galaxy Digital and BlockTower have promised to participate in it. A round of financing. However, according to the information released this time, the two institutions did not appear on the list of participants, and the scale of this round of financing is also lower than the previously announced 20 million US dollars.
Cooperation with blockchain companies supported by the automotive industry Hyundai Group
In July of this year, HDAC Technology and CasperLabs, a blockchain company supported by Automotive Modern Group, announced a strategic partnership to jointly develop and develop consensus mechanisms and seamless integration between HDAC and CasperLabs blockchain.