Blockchain Firm Secures $5 Million From Investment Company Cosimo
crazyfrog last edited by
Oneiro, a blockchain solution company, secured a $5 million investment from Cosimo Ventures.
Total investment of $8 million
In an Oct. 3 press release, Boston-based provider of high-performance blockchain solutions Oneiro announced that it had secured a $5 million investment from Cosimo Ventures in a Series A funding round.
Cosimo Ventures is an investment firm involved in sectors including blockchain, cryptocurrencies and the Internet of Things.
Oneiro’s latest funding round brings the company’s total venture capital investment to $8 million. The company wrote that it plans to use those funds to provide additional services to clients, such as the Axiom Foundation, more efficiently.
Cosimo Ventures and Oneiro previously joined forces to launch the unpegged digital currency, ndau, which the press release claims addresses certain pain points associated with other stablecoins. Cosimo Ventures managing partner Ciarán Hynes said:
“The Oneiro team has made significant progress this year, and these new funds will allow the team to further develop multiple blockchain technologies, extend into the crypto ecosystem, and accelerate the adoption and use of various blockchain applications, including digital virtual currencies such as ndau.”
Crypto hedge fund leads $5 million seed round
Cointelegraph recently reported that Pantera Capital led a $5 million strategic seed round of decentralized derivatives protocol Vega. The funding round included participants such as Ripple’s investment arm Xpring, Hashed, NGC Ventures, gumi Cryptos Capital, Rockaway Blockchain, KR1, Eden Block, Focus Labs and Greenfield One.
supermario last edited by
5 mil is no small sum.
hola55 last edited by
Congratulations. Any form of investment is an achievement.
elixir last edited by
Hope the funds will help to boost their work even further.
bell last edited by
Good to see there are investments towards innovation.
harrypotter last edited by
They can do a lot with that money.
Great to see that the investment will help them develop further.
@bell Yeah. Absolutely. And they seem to be doing a great job with it.
@supermario It isn't. They really must have trust in Oneiro.
bell last edited by
@pokemon They do kind of have to prove their potential before investors would be willing to pump in money.
@bell Yeah. That way the investors would see that it's money well-spent.