Layer1 Blockchain Shardeum Raises $5.4M with Participation from Amber Group and Others

Layer1 blockchain Shardeum announced it has raised $5.4 million in strategic funding at a $248 million valuation. Participants in the round include Amber Group, Galxe, J17 Capital, and others. The funds raised will be used to bolster its ecosystem. The Shardeum mainnet is expected to launch at the end of 2023.

Shardeum is co-founded by Nischal Shetty, founder of Indian crypto exchange WazirX. It is a horizontal solution that scales via sharding. Last October, Shardeum raised $18.2 million in a seed funding round with participation from Spartan Group, Big Brain Holdings, Jane Street and others.

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