Indian crypto exchange WazirX's co-founder Nischal Shetty is in advanced stages of talks to raise a maiden funding round for his new venture, sources familiar with the matter told TechCrunch.
Shetty is raising $20 million to $30 million in a seed financing round for his blockchain startup Shardeum, sources said, requesting anonymity as the deliberations are ongoing and private. The funding round proposes to value the startup at about $200 million, the sources added.
The Spartan Group, Struck Crypto, Big Brain Holdings and Cogitent Ventures are among some of the investors who are engaging to participate in the round, the sources said.
Shetty confirmed that the startup is in talks to raise funding, but said the round hasn’t closed.
"We are currently working with top VCs in an ongoing funding round. While it has not yet closed, we expect to see great support for Shardeum and our mission of making blockchain technology faster, smarter, and easier to use for everyone,” he said in a...
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