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Blockchain Firm Figment Raises $2.5M in Funding Round Led by Bonfire Ventures
Figment said the latest round will enable it to continue developing its blockchain staking, governance and developer tools.
Canada-based blockchain infrastructure provider Figment has completed another multi-million dollar funding round.
STORY CONTINUES BELOW
- Announced Thursday, the startup said it raised $2.5 million in an additional funding round led by Bonfire Ventures with participation from FJ Labs, XDL Capital Group, and BKCM, Lemniscap among others.
- "This new round of capital will enable Figment to continue to invest in our best-in-class blockchain staking, governance, and developer tools," Figment's CEO Lorien Gabel said in a statement.
- The funding follows a pre-seed round of $1 million in 2018 and a seed round in 2019 bringing in $1.5 million, also with participation from Bonfire, XDL, Lemniscap, and FJ Labs.
- Gabel said the company believes in an internet where people control and profit from their own data, rather than "large data monopolies and governments" – an objective Figment is working to achieve.
- The company provides infrastructure and tools for networks such as Cosmos, Polkadot, Celo, and Skale, as well as offering what it calls "institutional-grade" staking services on over 30 blockchains.
See also: Predictions Platform Polymarket Raises $4M From Polychain, Naval Ravikant and More
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
