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.


Image source:

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.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


The Sandbox and NuggetRush: A Tale of Upgrades and Rushing Nuggets

Fashionistas, are you ready for the latest updates on The Sandbox (SAND)? The popular NFT platform is launching a new...


Parity Technologies: Restructuring with a Bang!

Parity Technologies, the company behind the popular Polkadot network, has announced a major restructuring strategy.


๐ŸŽ‰ Binance Customers Can Now Keep Their Assets in Independent Custodians ๐Ÿฆ

Great news for Binance customers! Now eligible users have the option to store their assets with independent custodian...


๐ŸŽ๏ธ Enhancing the Excitement: Wingalaxy Revs Up the Racing Game on the Cronos Blockchain ๐Ÿ

Wingalaxy has recently announced the launch of their first race-to-win game on the Cronos blockchain, specifically de...


MakerDAOโ€™s Endgame Project: Transforming the Future of Lending ๐Ÿš€

MakerDAO has recently revealed its Endgame initiative, which aims to revamp the lending platform and increase its acc...


The CREDIX Finance Fiasco: A Sudden Plunge to Rock Bottom

The fashion world is stunned as the cryptocurrency CredixFinance (CREDIX) suffers a 100% drop, causing shock among in...