Nervos Network, a San Francisco, CA-based next-generation blockchain network for the enterprise, raised $28m in funding.
Backers included Polychain Capital, Sequoia China, Wanxiang Blockchain, FBG Capital, Blockchain Capital, Dekrypt Capital, Multicoin Capital, 1confirmation, Matrix Partners China, 1kx, etc.
The company intends to use the new capital to grow its product and engineering teams, accelerate development of its enterprise blockchain solutions, and ramp up strategic partnerships.
Founded by Jan Xie, a former researcher and developer at the Ethereum Foundation; Terry Tai, core developer at Yunbi, a popular cryptocurrency exchange; Daniel Lv, former CTO at imToken, world’s most popular Ethereum wallet; and Kevin Wang, founder of Launch School and former IBM engineer, Nervos is a network of interoperable protocols built on top of an open network and designed for enterprise applications. By providing a hybrid solution that combines a public blockchain and an application chain, Nervos Network allows enterprises to build and deploy decentralized applications (dApps) without committing their entire tech stack to the blockchain.