Funding

Binance Labs helps Dapix raise $5.7 million in series A funding round

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Colorado-based blockchain firm Dapix has raised $5.7 million (£4.63m) in a recently held series A funding round led by Binance Labs.

Dapix, which empowers the blockchain ecosystem with revolutionary inter-wallet usability, was responsible at the initial development stage of the FIO Protocol, which is an industry-based, decentralised service layer that improves usability across every blockchain, token or coin. In due course, the Protocol would be guided by the Foundation for Interwallet Operability (FIO), a consortium of leading wallets, exchanges, and cryptocurrency payment processors.

The consortium continues to grow every month as more and more of the ecosystem is supporting the FIO Protocol as an industry-wide usability standard.

“The Internet was around for more than 10 years before a key usability protocol enabled usage to explode. Our goal is nothing less than to have the decentralised FIO Protocol enable a similar outcome for the blockchain ecosystem,” said David Gold, Dapix founder and CEO in a statement. “We are humbled by the overwhelming support we’ve received from FIO members, investors and Binance, who share our vision of improving usability and achieving mass adoption.”

In July, Blockchain customer relationship management (CRM) solution provider Cere Network secured £3m in its seed-funding round. Major investors including Binance Labs, the venture arm of cryptocurrency exchange Binance, participated in the event. Other investors are Neo Global Capital, Fenbushi Capital, Arrington XRP Capital, and Block VC among others. The company aims to disrupt the CRM space, one of the most competitive categories with a market cap of £39b in 2018. As a blockchain-native firm, Cere Network is attempting to use this advantage to bring into effect its new technology in the industry.

In August, Australian SaaS developer Lumachain raised $3.5m (£3m) in a funding round spearheaded by CSIRO-linked Main Sequence Ventures. As reported by Business Insider, The Sydney, New South Wales-based company uses blockchain to find and track items in the food supply chain that could be unethically sourced products or products of forced labour.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

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