Metis Raises $1M in Seed Funding

Metis, a blockchain company, raised $1M in seed and angel funding.

Backers included Ralf P. Gerteis, P1X Capital, Waterdrip Capital, DFG, Chain Capital, AC Capital, Block.power Combinator, Hotbit, SSSnodes, Crasolum, Kernel Ventures, Catcher VC, Jubi Labs and Ming Liu, former co-founder of Tron.

The company intends to use the funds to release its new Layer2 DAO framework at the end of March. 

Established in 2018 by co-founders Elena Sinelnikova, Kevin Liu and Yuan Su, Metis is building a governance and management mechanism-embedded Layer2 protocol to fully support the application migration from Web2 to Web3.

Metis has built its tech stack by hard-forking the Optimistic Rollup(OR), a mainstream Layer2 scaling solution of Ethereum. Tailoring the OR for managing collaborations, Metis aims to develop a full functions framework for Web2 communities, allowing anyone to create their decentralized company on the blockchain, whatever their prior experience of blockchain technology. The Optimistic Governance mechanism will provide a way to build trust among collaborating community members and other tools will enable the management of business activities.

Sinelnikova is also CEO at CryptoChicks, a non-profit blockchain educational hub which aims to grow the potential of women in the blockchain industry. She brings that expertise to the Metis, which will empower Web2 builders and communities to create decentralized companies, launch blockchain DApps and leverage blockchain-based tools to manage the decentralized collaborations happening among the DApps.