Back to the list

Solana based SolRazr closes $1.5M funding round to develop flagship decentralized ecosystem

invezz.com 07 September 2021 13:41, UTC
Reading time: ~2 m

Solana (SOL/USD) based venture platform SolRazr’s innovative decentralized developer ecosystem is designed to be the only developer and fundraising platform for projects building on the Solana blockchain. It comprises Launchpad, Accelerator, and Developer Tools.  

Supporting DeFi growth on the SOL network

SolRazr also aims to support the growth of decentralized finance on the network according to cofounder Sreekanth Kalapur, who added: 

“Solana will power SolRazr to help projects raise capital at lightning speed, and to help investors contribute at negligible transaction costs. The platform is not only fast and inexpensive but also secure and bot-proof, providing fair and truly decentralized allocations for the SolRazr community. SolRazr is not just a launchpad; we are building a platform with a host of developer tools to help anyone build fast on Solana.”

SolRazr will be based on an allocation model retail investors leveraging NFTs in this ecosystem will find unique. Solana is marketed as the fastest blockchain, supporting 50,000 transactions per second (TPS). It has 200 nodes operating across the globe and a Proof-of-Stake (PoS) blockchain with a pBFT-derived consensus mechanism.

SolRazr cofounder Vijay Kalangi pointed out:

“Blockchains and cryptocurrencies are gaining mainstream adoption with growing interest from institutional investors. However, we’re still very early and not even at 1% of global tech adoption in digital assets and projects. Watching SolRazr develop into the platform we have today has been truly amazing. We’re only just scratching the surface of what the full-service SolRazr ecosystem is capable of, and we’re looking forward to unveiling that shortly.”

Recently, SolRazr raised $1.5 million in a funding round, in which Ascensive Assets, Moonrock Capital, and Morningstar Ventures took part. Among other notable participants were Divergence, Genesis Block Ventures, CMS Holdings, Genblock Capital, and Skynet Trading. Some angel investors contributed too.

SolRazr managing partner Jonathan Habicht said Moonrock Capital was thrilled to be part of the SolRazr journey, adding:

“SolRazr and its core components have been created to address several adoption-critical needs of the Solana blockchain ecosystem. It is a platform designed and developed by a leading team of experts and blockchain veterans.”

Back to the list

Similar news
Suggest news