Blockchain Platform Horizon Labs Raises Twice The Amount In Seed Funding From Liberty City Ventures
Just-launched sidechains start-up Horizon Labs has currently raised $4 million in a seed financing round– double what it had actually at first planned.
Taking part in the round were VC firms Digital Currency Group (DCG) and Liberty City Ventures, along with other independent investors. The launch of Horizon labs is indicated to make blockchain innovation available to business. Now, the blockchain tech business has actually revealed to have received 4 million of seed funding which is two times the amount initially anticipated.
The U.S.-based start-up had initially been aiming to raise $2 million but eventually received double its target amount, it said in a statement Thursday. The firm, an entity spun off of Horizon (previously ZenCash)– was officially introduced yesterday.
With the investment, Horizon Labs said it will build “in-expensive, time-efficient, and customizable” blockchain solutions for businesses with the investment. The company offers a proprietary sidechains-as-a-service platform it says removes the need for entities to spend their resources on development and allows for quicker deployment of existing systems using pre-built functional sidechains.
Big Demand for affordable custom blockchain solutions
Horizen Labs CEO Robert Viglione said: “We have seen considerable demand from customers and businesses for custom blockchain solutions that are not expensive and time-consuming to build.”
“Through Horizon Labs’ proprietary Sidechain-as-a-Service platform, we aim to let companies benefit from the high-level security of Horizon, a privacy-focused blockchain platform with the largest node network in the industry, ” he also added.
piloting design collaborations with third-party companies
Horizon said it will pilot design collaborations with third-party companies wanting to implement blockchain into their operations. To that end, the company is dealing with design partners in various business areas in order to bring its very first sidechain solutions to the market.
DCG founder and CEO Barry Silbert said Horizon offers “a seamless way for businesses to incorporate customized digital ledger technology into their operations, removing a significant barrier to blockchain adoption and advancing the industry as a whole.”
Last month, Digital Currency Group also made an undisclosed investment in cryptocurrency futures exchange CoinFLEX.