Blockchain network Nervos nervelessly nets $28m funding
San Francisco-based blockchain firm Nervos Network has raised $28 million to grow its product and engineering teams, develop its solutions, and create partnerships.
Investors include Polychain Capital, Sequoia China, Wanxiang Blockchain, FBG Capital, Blockchain Capital, Dekrypt Capital, Multicoin Capital, 1confirmation, Matrix Partners China, and 1kx.
Jan Xie, co-founder and chief architect of Nervos, says: “The new funding will allow us to move full speed ahead as we build an infrastructure that will allow enterprises to reduce the costs of developing and deploying blockchain applications.”
Founded by a team of blockchain and crypto veterans from Ethereum, imToken and Yunbi, Nervos says it offers interoperable protocols built on top of an open network and designed for enterprise applications.
It provides a hybrid solution that combines a public blockchain and an application chain. This allows enterprises to build and deploy decentralised applications (dApps) “without committing their entire tech stack to the blockchain”.
While it says it’s based in San Francisco on Twitter, most of its team is located in China – such as Hangzhou, Sichuan and Beijing.
In fact, China seems to be the main focus.
“We are excited by some of the activity happening in the Chinese crypto ecosystem and have been impressed by the Nervos team and their approach to building a high performance blockchain,” adds Olaf Carlson-Wee, founder and CEO of Polychain Capital.