Agora Raises $12M in Seed Funding


Agora, a Jersey City, NJ-based provider of a digital dollar (aka stablecoin), raised $12M in Seed funding.

The round was led by Dragonfly, with participation from General Catalyst, Hack VC, Kraken Ventures, as well as other funds and angels. Related strategic investors include Mirana Ventures, Mantle EcoFund, Foresight Ventures, Wintermute Ventures, Galaxy, and Consensys. 

The company intends to use the funds to launch their digital dollar and asset platform purpose-built for the transmission of value on blockchain-based rails.

Led by CEO Nick van Eck, CTO Drake Evans, and COO Joe McGrady, Agora is advancing a fully collateralized, freely tradeable US digital dollar (aka stablecoin) that will be launched soon and will serve select markets outside the United States. Its digital dollar, AUSD, will differ materially from existing product offerings. The reserve fund will be managed by VanEck, one of the world’s largest ETF issuers, and the assets will be bankruptcy remote, held in trust, and regularly audited.