Multichain wallet Blocto has closed a Series A funding round at a valuation of $80 million. The startup would not disclose the funding amount for this round. Entrepreneur Mark Cuban, IPX and returning investor 500 Global participated in the raise, the company said in a release. Cuban's involvement with the startup was announced late last year.
Blocto most recently raised funds in 2021. It closed a $8 million Series A round in April 2021 led by Animoca Brands and with participation from CMS Holdings, Double Peak Group and collapsed trading firm Alameda Research, according to Crunchbase data. Not long after this raise, the startup also closed an $8 million private token round that featured investors such as SevenX Ventures, Alameda Research and Roham Garegozlou, the CEO of Dapper Labs.
The startup's valuation has increased eightfold, the company said in the release, without specifying a timeframe for that gain. It was launched back in 2019 by its parent company Portto. The funds from the raise will be used to support Blocto as it develops the infrastructure to onboard users into crypto.
All Comments