Calimero Network raises $8.5m for NEAR sharding

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Blockchain
Calimero Network raises $8.5m for NEAR sharding

Calimero Network has raised $8.5 million in a seed round co-led by Khosla Ventures, Lyrik Ventures, and NEAR Foundation. The funds will be dedicated to developing private sharding solutions for the NEAR protocol.

Calimero secures $8.5 million funding

Calimero Network, a blockchain infrastructure provider that claims to use cutting-edge privacy and permissioning techniques to bring to life private, customizable shards for enterprises, has secured $8.5 million in seed funding.

Per a tweet by the team, the funding round was co-led by Khosla Ventures, Lyrik Ventures, and NEAR Foundation. The raised capital will be used to develop private sharding solutions for the NEAR protocol.

Powered by the NEAR protocol, Calimero gives users the choice of easily deploying ready-to-use solutions from its marketplace or building their own decentralized applications from the ground up.

The platform also enables users to quickly connect to private and public Web3 applications like NFTs, DeFi, and more, without sacrificing confidentiality.

Despite the devastating crypto winter, web3 startups raised more than $7 billion last year, and that trend has continued in 2023.

On Jan. 20, reports emerged that web3 startup Obligate (formerly FQX) had secured $8.5 million from Circle Ventures, and others, to build a new blockchain-based bond issuance platform for businesses. 

At the time of writing, NEAR Protocol’s native NEAR token is trading at around $2.58, representing an over 20% increase in the past seven days, with a market cap of $2.19 billion, according to CoinMarketCap.

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Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.