September 10, 2024
T1 Protocol, an Ethereum scaling solution, has secured $2.5 million in pre-seed funding. The round was led by a16z Crypto Startup School (CSX) and included investments from Espresso, Frax, CowSwap, ETHGlobal, ENSO, INJECTIVE, and angel investors Guy Wuollet, Ali Yahya, and Eric Chen. T1 Protocol’s goal is to improve Ethereum’s scalability by offering rapid finality and real-time proof generation to unify the network.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
T1 Protcol | $2.5M | September 10, 2024 | Pre-Seed Round | a16z CSX | Infrastructure |
About T1 Protocol
T1 Protocol is a platform designed to improve Ethereum’s scalability. It achieves this by providing rapid finality and real-time proof generation, which helps unify the Ethereum network. Essentially, it makes transactions faster and more efficient, enhancing the overall user experience.
Website: https://www.t1protocol.com/
About Investor
Investor: a16z crypto
a16z Crypto is a venture capital fund that invests in crypto and web3 startups. It is part of Andreessen Horowitz and has been investing in this space since 2013. The fund supports entrepreneurs building the next generation of the internet, focusing on blockchain and digital assets. They manage over $7.6 billion across four funds.
Location: Menlo Park, CA
Website: https://a16zcrypto.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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