Modular blockchain Sophon attracted $10 million in investments
Date: 2024-04-02 Author: Henry Casey Categories: BLOCKCHAIN
Startup Sophon has closed a $10 million funding round, attracting the attention of major investment players. Among the investors who have invested in the project are The Spartan Group, OKX Ventures, Maven 11 Capital, HTX Ventures, SevenX Ventures and Paper Ventures.
Sophon is a modular blockchain that promises technological innovation and impact potential for local communities. The funds raised will be used to further develop the project and expand its influence on the market.
Denish Chaudhry, General Partner at Paper Ventures, emphasized the importance of investing in startups that are not only technologically advanced but can also have a deep impact on local communities. This demonstrates the growing interest in the development of innovative technologies and their potential impact on society.
All this is happening in the context of increasing investment in blockchain projects. Previously, 0G Labs raised $35 million, and modular blockchain Eclipse raised $50 million as part of a Series A funding round. This indicates growing investor confidence in the potential of blockchain technology and its prospects in the global market.
Overall, raising $10 million in investment for Sophon is an important step in the development of the project and demonstrates investor confidence in its potential. It also confirms the growing interest in innovative technologies and their role in future economic and social development.
