Swiss firm Shardeum, co-founded by Indian crypto exchange WazirX founder Nischal Shetty, has raised $5.4 million from the Amber group, Galxe, J17 Capital, JSquare, and TRGC among others.
The team behind Shardeum, which focuses on scalability of blockchains, aims to leverage the additional funding to support the growth of the ecosystem in the lead-up to the mainnet launch later this year.
The start-up, which was founded in 2022, had earlier raised $18.2 million in the seed round in October 2022 with investors such as Jane Street, Big Brain Holdings, Struck Crypto, The Spartan Group, Ghaf Capital, DFC, CoinGecko Ventures and Foresight Ventures.
As of July 7, over 7.4 million transactions have taken place on the test net, with 820 thousand plus accounts and over 230 thousand contracts deployed.
“This raise allows us to continue to prioritise decentralisation by growing our community of participants worldwide through education and other key initiatives,” said Kelsey McGuire, chief growth officer at Shardeum.
