Odsy Foundation, a Zug, Switzerland-based non-profit organization dedicated to developing the Odsy Network ecosystem, raised $7.5M in Seed funding.
The round, which brought the Odsy Network valuation to $250M, was led by Blockchange Ventures with participation from Rubik Ventures, No Limit Holdings, Node Capital, Insignius Capital, FalconX, SolrDAO, TPC and others.
The company intends to use the funds to expand operations and its development efforts.
Established in August 2022 and led by Sean Lee, Executive Director (former CEO of Algorand Foundation,) The Odsy Foundation is a non-profit organization dedicated to fostering and developing the Odsy Network ecosystem.
Led by Omer Sadika, The Odsy Network provides a secure and programmable access control layer for all of Web3 through a new crypto primitive – dWallets (dynamic decentralized wallets). dWallets are programmable and transferable signing mechanisms that live on the decentralized Odsy Network, and that can sign transactions on practically any other blockchain.
The foundation works to accelerate the adoption of dWallets and the Odsy Network by promoting research, education, development and partnerships. Following decentralized, open platform principles, Odsy is committed to facilitating adoption by supporting the development of a universal access control layer not currently available in Web3.
While the Odsy Network is still in development, there are already over 10 projects actively building in the Odsy ecosystem, many of them VC-backed – including dWallet Labs who raised $5M in a round led by Digital Currency Group and Node Capital, and Fun who raised $3.9M in a round led by Tinder Co-Founder Justin Mateen’s JAM Fund.
FinSMEs
11/05/2023