The start-up plans to increase its marketing activities with the infusion of this capital
Nischal Shetty-led blockchain start-up Sharedum has raised $18.2 million (Rs 145.6 crore) in a seed funding round. The Switzerland-headquartered start-up was valued at $199.1 million in this investment round, Mint reported.
More than 50 investors participated in the investment round including companies like Jane Street, Struck Crypto, The Spartan Group, Big Brain Holdings, DFG, Ghaf Capital Partners and Foresight Ventures took part in the investment round.
Several other angel investors like CoinGecko Ventures and Zebpay were also present in the round, including angel investors including former Coinbase chief technology officer Balaji Srinivasan, Wagmi Ventures' Mayur Gupta and Michael Montero, founder at Struck Studio and Montero Ventures.
The blockchain start-up plans to use thei capital to increase its marketing efforts, intensify its dynamic sharding technology and product designing. Over the next few years, the firm has plans to host hackathons in India and the US. It will provide a platform to incentivise developers to build the Sharedum ecosystem.