Informal Systems has raised $5.3 million to fund its work as a core development team in the Cosmos ecosystem. This is reported The Block.
The investment round was led by venture capital firm CMCC Global with support from Nascent, Maven11, and angels from Celestia and EigenLayer. The funds were transferred in the form of convertible promissory notes.
“This fundraiser marks an important step for Informal, allowing us to continue expanding the ecosystem by changing the quality standards of software, assets and organizations,” said Ethan Buchman, CEO of Informal Systems.
Part of the proceeds will be used to support the audit security division of Informal Security. This will help projects find bugs and improve protocol code.
The development team also has a Collaborative Finance project that aims to bring the Cosmos blockchain together with fintech organizations.
Previously developing SDK to create interoperable blockchain games, startup Argus Labs closed a $10 million seed funding round with the participation of Haun Ventures.
In May, Block CEO Jack Dorsey led a $6 million funding round for crypto payments company Azteco.
Crypto life insurance startup Meanwhile raised $19 million in June with the participation of OpenAI co-founder Sam Altman.
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Informal Systems has raised $5.3 million to fund its work as a core development team in the Cosmos ecosystem. This is reported The Block.
The investment round was led by venture capital firm CMCC Global with support from Nascent, Maven11, and angels from Celestia and EigenLayer. The funds were transferred in the form of convertible promissory notes.
“This fundraiser marks an important step for Informal, allowing us to continue expanding the ecosystem by changing the quality standards of software, assets and organizations,” said Ethan Buchman, CEO of Informal Systems.
Part of the proceeds will be used to support the audit security division of Informal Security. This will help projects find bugs and improve protocol code.
The development team also has a Collaborative Finance project that aims to bring the Cosmos blockchain together with fintech organizations.
Previously developing SDK to create interoperable blockchain games, startup Argus Labs closed a $10 million seed funding round with the participation of Haun Ventures.
In May, Block CEO Jack Dorsey led a $6 million funding round for crypto payments company Azteco.
Crypto life insurance startup Meanwhile raised $19 million in June with the participation of OpenAI co-founder Sam Altman.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!