Shardeum Raises $18.2 Million In Seed Round Funding From 50+ ECA Participants

👋 Shardians!

I’m happy to share with you that Shardeum has raised $18.2 Million in seed funding from more than 50 ECA Participants from around the world. Some of our participants include:

• VCs like Jane Street, Big Brain Holdings, Struck Crypto, The Spartan Group, Ghaf Capital, DFG, CoinGecko Ventures, Foresight Ventures, Jsquare, Cogitent Ventures, WeMade, Veris Ventures, ZebPay, Tupix Capital, and MapleBlock Capital
• Angels like Balaji Srinivasan, Mayur Gupta (CMO at Kraken), Ajeet Khurana (Founder at Reflexical), Harsh Rajat (Co-founder at Push Protocol), Michael Montero (Co-founder at Resy – acq. American Express), Ravi Adusumalli (GP at Elevation Capital), Vijay Pravin Maharajan (Founder at bitsCrunch), Nakul Gupta (Lead PM at Coinbase NFT Marketplace & Institutional Onboarding), Ganesan Swaminathan (Co-founder at Covalent), Pankaj Gupta (VP Engineering at Coinbase), Rohan Chauhan (Digital assets at Hudson River Trading), and Yele Bademosi (Co-Founder/CEO at Nestcoin, Founding Partner at Microtraction)

Spirit of decentralization

For the round, we chose to have a large number of ECA Participants with over 40% of them being angels. With the focus on decentralization, we wanted to maximize the distribution of SHM and not to have a select few participants that own a majority of tokens. Our cap table includes diverse global institutional, VCs and angels that are motivated to support Shardeum’s success.

ECA Participants 🤝 growth partners

The most important quality that we looked for in our potential participants was to be able to help us build Shardeum and grow the Web3 ecosystem. For the same reason, we also wanted several angels on our cap table. In fact, each angel in our round is a successful entrepreneur who can offer invaluable advice in areas such as marketing, tech, community growth, GTM strategy in various countries, tokenomics, hiring, etc.

Our ECA Participants are also present in almost every continent including Asia, LatAm, Africa, Europe, North America; this will help us benefit from our partners’ and their network’s knowledge about those geographies and grow the Shardeum ecosystem globally. 

Every participant in our round has brought their reputation, experience and unique ability to support the growth of Shardeum in various ways to the table. In fact, some of our participants like Struck Crypto, Big Brain, DFG, Foresight Ventures have helped with fundraising, marketing strategy consulting, introductions to reputable ecosystem partners, etc.

Community – the real heroes

This seed round is a good indicator of the tremendous interest from the ECA Participant community towards Shardeum. The fact that Shardeum has one of the fastest-growing communities in the L1 ecosystem today and the kind of response our testnet has received from the community has massively impressed our participants.

The active involvement that YOU – our community – have shown via your contribution, participation in meetups, creating dApps on Liberty has given our participants a solid reason to look at Shardeum as a significant open, collaborative, community-driven L1 blockchain. Some highlights:

• Over 100K+ users on Liberty
• 10+ meetups in 2 months with 700+ participants
• 50+ active contributors helping with various tasks like hosting webinars, meetups, partnerships, blogs, etc.
• 20+ international communities (Turkey, Russia, China, Vietnam, etc.) created by contributors passionate about Shardeum and Web3
• Several city-based communities like Shardeum Hyderabad, Bangalore, Pune, etc.
• dApps like Swapped Finance, Shardeum Name Service, ShardeumSwap, Spriyo, and more on Shardeum Liberty
• 21K Discord members
• 43K Twitter followers
• 5K Telegram subscribers

It’s YOUR hard work that has helped us raise this $18.2 Million round, and we’ll continue to operate with YOUR help to grow Shardeum.

All of Shardeum’s participants agree scalability is a challenge in Web3, and believe Shardeum’s ability to scale linearly without sacrificing decentralization or security is the solution to the scalability trilemma. We’ll allocate the funds raised towards ramping up our marketing efforts along with growing the development team to further enhance Shardeum’s dynamic state sharding technology and ecosystem development, with special attention on product and design development. Funding will also go towards expanding research and marketing efforts. Over the next year, we’ll be actively hosting hackathons in India, US and the rest of the world with the help of volunteers, and providing a platform that incentivizes developers to build and grow the ecosystem.

This fundraise is only the beginning of our journey to make Shardeum a leading L1 globally, and enable decentralization for everyone.

Let’s keep BUIDLing 🚀

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