Blockstream raises $55M in Series A fundingbr>
Blockstream announced it has raised $55 million in Series A funding to continue to develop its sidechain technology and expand its global operations.
Blockstream’s total funding rises to $76m over two investment rounds. To date, the company’s signature technology has been its sidechains offering, currently in testing, which enables the creation of blockchains that can validate data from, and transfer assets to, other blockchains.
Investors including Horizons Ventures, Tokyo-based Digital Garage and AXA Strategic Ventures, the investment arm of insurance giant AXA SA, contributed to the funding. Horizons Ventures, Hong Kong magnate Li Ka-shing’s venture-capital firm, also took a seat on Blockstream’s board.
Blockstream is a company that develop new ways to accelerate innovation in cryptocurrencies, open assets and smart contracts.