Blockchain Startup DFINITY Closes Impressive $105M Funding Round

DFINITY, the cloud computing blockchain technology startup, reached a new milestone in its bid to success, receiving investments worth over $105 million.

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A significant part of the funding was provided by Polychain and Andreessen Horowitz, the U.S.-based private venture capital firm.

The startup‘s goal is to create an Internet Computer with the raised funds. The Presale of DFINITY included other backers such as SV Angel, Wanxiang Blockchain, and a few more. 

The developers behind the cryptocurrency are working hard to design the Internet Computer, and that comes with a lot of responsibility. The computer is supposed to operate with innovative software.

Polychain Capital and Andreessen Horowitz were not taking part in the project for the first time. In February the companies contributed by adding $61 million through the a16z investment fund.

DFINITY was founded in 2015, and since then it has raised $200 million. According to Dominic Williams – the startup‘s President and Chief Scientist the raised capital has opened the way for thousands of users to try or build on the Internet Computer.

The launch is scheduled for the beginning of 2019 and participants will get their tokens at the start. The team at DFINITY is continuously working on improving the project. Investors are advised to stay tuned to future partnerships and test network demonstrations.

Andreessen Horowitz is getting more involved in the cryptocurrency industry. Earlier this year, the company sponsored a new blockchain project called Basis‘stable coin with $133 million. Furthermore, in July, the firm financed a cloud computing program called Oasis Labs with $45 million.  

 

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