Kleiner Perkins has joined a $24.5 million Series A funding round for Bison Trails, a provider of blockchain protocols, which was led by Blockchain Capital to develop the firm’s infrastructure services.
Other participants included Coinbase Ventures, ConsenSys, A Capital, Collaborative Fund and Sound Ventures as new investors. Galaxy Digital and Initialized, as early backers, joined this latest round after participating in a $5.25 million seed round in March.
Bison Trails became one of the 21 founding members for Facebook’s Libra Association in October, boosting its somewhat flagging reputation as a global infrastructure service provider after high profile players like PayPal pulled out.
That makes Bison Trails the only blockchain infrastructure firm in the Libra project.
The New York-based startup helps customers deploy the participation nodes on any blockchain, without having to develop their own supporting technologies such as security, and serves more than 20 protocol projects.
In a statement, Kleiner Perkins investing partner Monica Desai said: “Bison Trails realized early that node infrastructure would become a bottleneck to blockchain adoption, which is why they created a decentralized, user-friendly solution.”
“When we started building Bison Trails, we wanted to bring transparency and ease to entrepreneurs bold …read more
Thank you Source: Startups