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- Rainbow, an Ethereum mobile wallet, has raised $18 million in Series A funding.
- Seven Seven Six, the VC firm started by Reddit co-founder Alexis Ohanian, led the round.
Ethereum mobile wallet startup Rainbow announced today that it’s raised an $18 million Series A funding round led by Seven Seven Six, the venture capital firm established by Reddit co-founder Alexis Ohanian.
The startup closed the round in October 2021 and has since hired more than 20 employees as it looks to scale its business to reach more users, according to a company statement. Rainbow did not disclose additional investors in the round, which followed a $1.5 million seed round.
Rainbow is designed as a streamlined and accessible mobile alternative to MetaMask, arguably the best-known Ethereum wallet, letting users trade crypto tokens, interact with dezentraliséierten Apps (dapps), buy and view NFT collectibles, and access layer-2 and sidechain scaling solutions like Polygon, Optimismus an Arbitrum.
The firm’s wallet app is currently available for iOS devices, and Rainbow also recently launched a public beta version of its Android app.
"Vill Krypto-Benotzer, ech selwer abegraff, betruechten Rainbow als dee beschten entworfene Portemonnaie", sot Ohanian an enger Ausso. "D'Benotzererfarung ass sou wichteg - [Rainbow's] Designwahlen sinn de Grond firwat se schonn e Kultfolger gebaut hunn a weider Scoren vun neie Benotzer op Web3 educéieren an onboard.
Ohanian is an outspoken advocate of NFT collectibles—he owns valuable Langweilen Ape Yacht Club an CryptoPunks avatars—and the potential for play-to-earn games like Axie Onendlechkeet to revolutionize the future of work. He’s an investor in Axie developer Sky Mavis, as well as Horizon Blockchain Games, maker of NFT-driven collectible card game Skyweaver.
Seven Seven Six recently announced a $200 million investment initiative alongside Polygon, the Ethereum sidechain scaling solution. The companies will co-invest funds into gaming and social media projects building on Polygon.
Ohanian’s VC firm announced a similar, Solanafokusséiert $100 million investment initiative with Solana Ventures leschten November.
https://decrypt.co/92997/rainbow-ethereum-wallet-raises-18m-led-by-reddit-co-founder-ohanian
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Source: https://decrypt.co/92997/rainbow-ethereum-wallet-raises-18m-led-by-reddit-co-founder-ohanian