Shardeum Raises $18.2M in Seed Funding


Shardeum, a remote provider of an Ethereum Virtual Machine (EVM)-based sharded blockchain which enables infinite scalability and atomic cross-shard composability, raised $18.2M in Seed funding.

Backers included Jane Street, Struck Crypto, The Spartan Group, Big Brain Holdings, DFG, Ghaf Capital Partners, Foresight Ventures, CoinGecko Ventures, Wemade, ZebPay, Jsquare, MH Ventures, Nestcoin, Veris Ventures, Tupix Capital, Mapleblock Capital, NetZero Capital, Balaji Srinivasan, Mayur Gupta, Michael Montero, Pankaj Gupta, Harsh Rajat, Nakul Gupta, Ajeet Khurana, Ravi Adusumalli, Rohan Chauhan, Ganesh Swami, Kashif Raza.

The company intends to use the funds to further enhance its dynamic sharding technology and ecosystem development, with special focus on product and design development. Funding will also go towards expanding the research and marketing efforts.

Founded by Nischal Shetty, and Omar Syed, Shardeum is an EVM-based Layer 1 blockchain which uses sharding to increase TPS (transactions per second) with the addition of every new node while retaining atomic composability. Shardeum provides low gas fees forever while maintaining decentralization and solid security through dynamic state sharding. The company aims to accelerate the transition to Web 3.0 by providing a platform that enables decentralized user experiences that are better than centralized competitors at scale.

Over the next year, Shardeum will be actively hosting hackathons in India and the U.S. and providing a platform that incentivizes developers to build and grow the Shardeum ecosystem.