Blockchain startups have received huge applause in recent times with their successful attempt in developing blockchain services and applications. In addition to this, some of the startups have also been able to raise huge funds in the global market due to their credibility, strong back-end support and leading names of the relevant industry. One such name is enterprise blockchain startup Symbiont that closed Series-B funding of about $20 million led by Nasdaq Ventures. It was completed with the participation of other big names such as Raptor Group, Citi and Galaxy Digital to name a few.
Specifically, talking about Symbiont it kept a real low profile in the last two years probably because of the volatile nature of cryptocurrency in the international market. But, it clearly did not impact the growth of Symbiont in any way as they actually doubled their team and raised a higher amount as compared to Series A fund.
Symbiont CEO Mark Smith stated that they have been able to manage the capital in a wonderful way in the last six years. Also, this was the right time for them to make expansions adding Nasdaq and Citi as their investor and partner which will help them in solidifying their foundations, as mentioned on Forbes. This way the blockchain startups will be able to bring in the assets of the blockchain in the mainstream adoption. Symbiont’s blockchain platform and smart-contract solution which is dubbed as Assembly were created for permission right from the start while there are other platforms also which have been given to open community source.
Other Renowned Blockchain Based Startups
The other big shot name in the community of blockchain startups is Tangem, a big name in the blockchain smart card wallets production. According to CISO Mag, this company has been able to raise a whopping $15 million lately from SBI Crypto Investment Ltd. These funds are going to be used exclusively for the massive adoption of global technology blockchain.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]