Tech Company Financing Transactions
BabylonChain Funding Round
BabylonChain secured a $18 million funding round on 12/9/2023. Backers included Hack VC, Polychain Capital and Breyer Capital.
Transaction Overview
Company Name
Announced On
12/9/2023
Transaction Type
Venture Equity
Amount
$18,000,000
Round
Undisclosed
Investors
Proceeds Purpose
The company intends to use the funds to bolster the advancement of its Bitcoin staking protocol, which converts the 21 million bitcoins into a decentralized staking asset for the Proof-of-Stake economy in a trustless way.
Company Information
Company Status
Private & Independent
Industry
Security
Mailing Address
Undisclosed
Palo Alto, CA Undisclosed
USA
Palo Alto, CA Undisclosed
USA
Phone
Undisclosed
Website
Email Address
Overview
Babylon is a VC-backed blockchain project founded by Claude. E. Shannon Award recipient, Professor David Tse from Stanford University. The project's mission is to bring Bitcoin's unparalleled security to all PoS blockchains in the world. To this end, we are building, as the bridge between Bitcoin and the PoS world, a new public Cosmos-based PoSblockchain called Babylon with a native token.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Fisher Yu
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