Blockchain firm Arcana Network has closed its latest round with $ 2.3 million in funding from top investors in blockchain and crypto space. Arcana is a decentralized storage layer for Ethereum and other EVM compatible chain DApps. The decentralized storage protocol received funding from a number of investors, some of which led to strategic rounds. These include Republic Crypto and another VC Woodstock Fund, led by Central Nguyen as CEO. Other investors participating in the round include Digital Currency Group (DCG), Hyperdage, Sahil Lavinger shl.vc, Fenbushi Capital, LD Capital and Paradigm Shift VC.
Republican raises 5 55,000 from crypto, Coinbase ex-CTO and others in Arcana seed round
During the seed round, which closed in July, Arcana raised 375,000 from a number of high-profile investors, including former Coinbase CTOs Balaji Srinivasan, Sandeep Nilewal and JD Kanani, founder of Polygon (formerly Matic), and Kendrick Nguyen, founder and republican. CEO.
In the recent (strategic) round of Arcana $ 2. Millionaire fundraiser Ganesh Swamy, Covalent CEO Ajit Khurana, Builders Tribe, UzirX’s Nishal Sethi and Aven’s Ajit Tripathi, as well as Arcana seed investor Arkanam Capital. With Fresh Capital, Arcana is targeting its solution-based products such as Skizel as well as Zenith that allow the transfer of files via email and blockchain which is supported by end-to-end encryption.
Arcana is ready to launch native tokens and others
Arcana is also looking at introducing a native token, $ XAR, which will be a key part of the storage level. $ 2.3 million will go a long way in launching tokens combined with other products and events. Arcana is looking to build a community after the overwhelming interest on its waiting list. Many developers join the waitlist which indicates their interest in the tested Arkana Software Development Kit (SDK). With the Alpha Testnet launching this month, in October 2021, Arcana has shipped a number of partners to test its SDK.
Launched in 2019, Arcana aims to be a decentralized storage powerhouse that developers can easily relate to.
While other storage platforms such as Sturge, Filecoin, IFPS are available in the market, Arcana wants to give developers and their DApps more value.
Commenting on the firm’s price proposals and their application in various industries, CEO Mayur Relecker said;
Data privacy and security will be first class citizens of each app stack. Privacy and data ownership will be a requirement for each product and developers will easily use the tool to meet it. With a vision of being a Privacy-First and Developer-Friendly Platform, Arcana is working with developers from Defy, NFT Platform, Social Networks and Wallet to Fintech, Healthcare and Enterprise SaaS to traditional themed Web 2.0 products. Their privacy and security Information. ”
Arcana was founded by Peacock Relaker who is currently the CEO. Arvind Kumar and Abhishek Chowdhury are co-founders of CEO Relecker. Since its inception, Arcana has signed a number of partnership agreements with companies that share the same vision as its own. Some of them include the fan-first sports fantasy platform Rage.fan, DIA, Headstart, enables India’s largest start-up ecosystem.