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Chainbound, an Ethereum Research Firm, raises $4.6M in Seed Financing round led by Cyber Fund


Ethereum Research Firm

August 26, 2024


Chainbound, a crypto R&D company, has secured $4.6 million in seed funding. The startup is developing a protocol called Bolt, which aims to enable sub-second transaction confirmations on Ethereum, drastically reducing the current average confirmation time of seven seconds.


Project

Latest Raise

Latest Raise Date

Stage

Lead Investor

Category

Chainbound

$4.6M

August 26, 2024

Seed Round

cyber•Fund

R&D

The funding round was led by Cyber Fund, with contributions from Maven 11, Robot Ventures, and Bankless Ventures, among others. Notable angel investors include Flashbot’s Hasu, Titan Builder co-founder Kubi Mensah, and Ethereum Foundation researcher Mike Neuder.


Preconfirmations, a research area in Ethereum, aims to enhance user experience by changing how transactions are included in blocks. This concept was first proposed by Ethereum Foundation researcher Justin Drake in late 2023.


About Chainbound

Chainbound is a research and development company focused on improving blockchain technology. Their main project, Bolt, aims to speed up Ethereum transactions by enabling sub-second confirmations, which is much faster than the current average of seven seconds. This innovation is part of their efforts to make blockchain more efficient and user-friendly.


 

About Investor

Investor: cyber•Fund

cyber•Fund is a research-driven investment firm focused on the cybernetic economy. They support and invest in projects at the intersection of blockchain, artificial intelligence, robotics, and related technologies. The firm has contributed to over 150 projects, including notable ones like Lido DAO and P2P.org. Their mission is to accelerate the transition to a more open and efficient economy by backing innovative entrepreneurs from the early stages of their ventures.

 

Location: Grand Cayman, CY

 

 

 

A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.

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