HomeMarketsValidation Cloud raises $5.8M to power enterprise adoption of Web3

Validation Cloud raises $5.8M to power enterprise adoption of Web3

-

  • Validation Cloud announced it secured $5.8 million in a funding round led by Cadenza Ventures.
  • The Switzerland-based company will use the funding to accelerate adoption of its infrastructure to help with enterprise adoption of Web3.

Validation Cloud, a Switzerland-based Web3 data streaming and infrastructure firm, has secured $5.8 million in a funding round led by Cadenza Ventures.

This is Validation Cloud’s first external financing round and funds raised will go towards promoting global enterprise adoption of Web3.

According to details in a press release, the oversubscribed round also attracted the participation of prominent global venture firms, including Blockchain Founders Fund, Blockwall, Bloccelerate, Side Door Ventures, GS Futures, Metamatic and AP Capital.

Validation Cloud to help Web3 enterprise adoption

Zug-based Validation Cloud is one of the leading providers of high performance, scalable products in staking, node and data to clients across the globe.

The company’s team include pioneers in proof-of-stake, validation cloud who have built for global industry giants such as Uber, Deloitte, Morgan Stanley and Citadel. Other major companies include Binance, Workday, Crypto.com and R3.

Describing itself as a talent-first company, Validation Cloud has employees across the world. Its operations include providing infrastructure support to companies and platforms in their early stages of development.

Alex Nwaka, the co-founder of Validation Cloud, noted in a statement that scalable and compliant infrastructure is needed to help “onboard the influx of enterprises embracing Web3.” 

The partnership with global investors accelerates the adoption of Validation Cloud’s suite of products by networks, builders, and asset managers, he added.

Kumar Dandapani, managing partner at Cadenza, commented:

At Cadenza, we do not invest in just any company; we invest in the future of transformative technologies. Validation Cloud’s pioneering role in Proof-of-Stake and their relentless pursuit of next-generation Web3 infrastructure have set them apart as leaders in the Web3 space.”

Cadenza is proud to lead this round and support Validation Cloud’s mission to bridge the gap between traditional enterprises and the expansive power of Web3,” Dandapani added.

Validation Cloud has partnered with established blockchain networks such as Chainlink, Stellar and Hedera, as well the emerging Aptos, Eigenlayer, and Berachain.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

6 Common Pitfalls of Self-Directed and Checkbook Bitcoin IRAs

Originally published on Unchained.com.Unchained is the official US Collaborative Custody partner of Bitcoin Magazine and an integral sponsor of related content published through Bitcoin Magazine....

Deutsche Bank Survey: Over Half Expect Crypto to Become ‘Important’ Asset Class and Payment Method

A new Deutsche Bank survey found that over half of respondents expect cryptocurrencies to become an important asset class and a method of payment. In...

Calls It A ‘Proof-of-Stake Scam’ Unfit For SEC Approval

The Ethereum (ETH) community has continued to eagerly await news on approving a spot Ethereum Exchange-Traded Fund (ETF) slated to occur by May. However, as the...

Most Popular

spot_img