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Blockchain Startup Shardeum Raises $5.4 Million in Strategic Funding Round, Valuation Reaches $248 Million

blockchain startup shardeum raises 5.4 million in strategic funding round valuation reaches 248 million

During a successful round of strategic investment Shardeum was able to raise $ 5.4 million . According to The Block the most recent investment has increased Shardeum’s worth to $ 248 million. With the help of this investment Shardeum hopes to concentrate on decentralization while enlarging its worldwide network through critical projects including training programs. The Head of Development at Shardeum Kelsey McGuire expressed her excitement for the investment and its prospective effects. Prominent investors such as Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group and Luganodes participated in the investment round . The strategic alliances created through this fundraising round will probably aid Shardeum’s expansion and advancement in the blockchain sector.

blockchain startup shardeum raises 5 2

Expansion Plans and Leadership Team

By the end of 2023 Shardeum hopes to have the primary Shardeum network operational. The creator of the Indian exchange WazirX Nischal Shetty and blockchain architect Omar Saed are in charge of the project. The team hopes to create a strong and effective blockchain solution by using sharding technology with their knowledge and experience . This new strategy might enhance the blockchain ecosystem’s scalability and performance .

Recent Trends in Crypto Funding

The money that is obtained by Shardeum coincides with a dramatic fall of 71 % in the amount of venture capital transactions in the cryptocurrency sector in June . Despite this the blockchain business was able to get a sizeable investment and showed the ongoing interest and trust in successful ventures in the cryptocurrency industry . 

The cash that is obtained will be essential in advancing Shardeum’s growth, promoting decentralization and growing its international community as it moves closer to the launch of its primary network .

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