Layer-1 blockchain company Shardeum raises $5.4m in funding

Layer-1 blockchain company Shardeum raises $5.4m in funding Duncan is an award-winning editor with more than 20 years experience in journalism. Having launched his tech journalism career as editor of Arabian Computer News in Dubai, he has since edited an array of tech and digital marketing publications, including Computer Business Review, TechWeekEurope, Figaro Digital, Digit and Marketing Gazette.

Shardeum, a scalable EVM-based layer-1 blockchain deploying dynamic state sharding, has closed a $5.4 million strategic raise with participation from Amber Group, Galxe, J17 Capital, JSquare, and TRGC, among others.

The team behind Shardeum aims to leverage the additional funding to further support the growth of the ecosystem in the lead-up to the mainnet launch later this year. 

Founded in 2022, Shardeum is a highly-scalable EVM-based layer-1 blockchain deploying dynamic state sharding to keep gas fees low and transactions per second high as participation grows. As of today (July 7, 2023), more than 7.4 million transactions have taken place on the testnet, with 820K+ accounts and over 230K contracts deployed.

“The completion of this strategic raise from key participants puts Shardeum in position to expand on our mission to cultivate a global and diverse community. Given Shardeum’s consensus design and use of dynamic state sharding, validator participation is highly accessible regardless of user access to computing resources,” said Kelsey McGuire, chief growth officer at Shardeum. “This raise allows us to continue to prioritise decentralisation by growing our community of participants worldwide through education and other key initiatives.”

The full list of participants for this strategic raise includes Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group, Luganodes, Blockchain Ventures Hub, CryptoViet Ventures, Blue7, and more.  

The $5.4 million raise follows Shardeum’s successful $18.2 million seed round in October 2022 from backers such as Jane Street, Big Brain Holdings, Struck Crypto, The Spartan Group, Ghaf Capital, DFG, CoinGecko Ventures, Foresight Ventures. 

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