Decentralized communications startup New Vector received $8.5 million in financing, intended to replace WhatsApp, etc.

London-based decentralized communications startup New Vector has raised $8.5 million to promote the adoption of Matrix, a major alternative messaging protocol.


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Slack's competitor Riot.IM

New Vector announced on October 10 that the Matrix protocol can communicate securely through an end-to-end encrypted messaging application (such as Riot.IM), an alternative to WhatsApp, Telegram or Slack, which will continue to leverage newly raised funds. Expand and develop its network.

The company said New Vector's investors in Series A financing include Firstminute Capital, a London-based European seed fund, Notion Capital, which focuses on cloud computing and software as a service (SaaS), and Dawn Capital, an enterprise software venture capital firm.

The report pointed out that as part of the promotion of the Matrix program, the company will also allocate funds to the Matrix hosting platform

US and French governments as customers

The Matrix protocol is an open standard that supports a secure and decentralized global communications network. According to the company, the agreement enables secure communications through interoperable instant messaging and Internet Protocol (VoIP) applications while preserving ownership and control of data.

As stated in the announcement, the Matrix network has expanded to more than 11 million users and 40,000 deployments, with well-known customers such as the US government, the French government, the non-profit corporate education project Wikimedia, and the software companies KDE and Red Hat (RedHat). )Wait.

In mid-September this year, Tim Draper, a billionaire investor and cryptocurrency optimist, joined the board of EOS-based decentralized application company MakeSense Labs. At the time, Draper, an early investor in the SenSense parent company Sensay, emphasized the role of allowing Sense.Chat to provide private and seamless messaging to improve interpersonal relationships.