Bitcoin Startup raises 9.5 Million

Chain, a Bitcoin startup, gets venture capitalAfter Coinbase in December and BitPay in May another Bitcoin Startup attracted capital from prominent investors. Chain wants to make it easier to build Bitcoin apllications for developers and had closed a 9.5 million Dollar investment round led by Khosla Ventures. That shows that the investors beleive in Bitcoin and the chances of crypto-currencies. Chain went live in May and since that more than a thousand developers building Bitcoin wallets and others with the products from the startup.

In their blog Adam Ludwin, co-founder of Chain, wrote:

Today, we’re pleased to announce that Chain has closed a $9.5M round of funding led by Khosla Ventures, who are joined by return backers RRE Ventures, Thrive Capital, and SV Angel. Keith Rabois from Khosla has joined our board and brings a wealth of operational and financial wisdom to our team. Several other invaluable angel investors and specialist funds participated in the financing and have become key strategic partners.

This funding will allow us to invest heavily in building the world’s most reliable and robust bitcoin infrastructure for developers, enterprises, and financial institutions. We are so grateful to you – our early users – who relied on us to power your bitcoin applications and provided us with incredible feedback as we shaped our initial offering.

The startup which is based in San Francisco plans to use the investment to expand its engineering team to put their ideas into practice soon.

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