O(1) Labs, a San Francisco, CA-based light blockchain company, raised $10.9M in strategic funding.
investment round from partners throughout Asia. Co-leading the round are Bixin Ventures and Three Arrows Capital with participation from SNZ, HashKey Capital, Signum Capital, NGC Ventures, Fenbushi Capital, and IOSG Ventures, among others.
Led by Evan Shapiro, CEO and Co-Founder, O(1) Labs develops Mina (formerly Coda Protocol), is a light blockchain, powered by participants. Rather than apply brute computing force, Mina uses advanced cryptography and recursive zk-SNARKs to design an entire blockchain that is and always will be about 22kb, the size of a couple tweets. With its decentralized network and open-programmable currency,
Previously, the company raised a $3.5M seed round in May of 2018, followed by a $15M series A round in April 2019 from Polychain, Paradigm, Coinbase Ventures, General Catalyst, Accomplice, Metastable, Naval Ravikant, and others.