Blockchain Firm Secures $5 Million From Investment Company Cosimo

Oneiro, a blockchain solution company, secured a $5 million investment from Cosimo Ventures.

Total investment of $8 million

In an Oct. 3 press release, Boston-based provider of high-performance blockchain solutions Oneiro announced that it had secured a $5 million investment from Cosimo Ventures in a Series A funding round.

Cosimo Ventures is an investment firm involved in sectors including blockchain, cryptocurrencies and the Internet of Things.

Oneiro’s latest funding round brings the company’s total venture capital investment to $8 million. The company wrote that it plans to use those funds to provide additional services to clients, such as the Axiom Foundation, more efficiently. 

Cosimo Ventures and Oneiro previously joined forces to launch the unpegged digital currency, ndau, which the press release claims addresses certain pain points associated with other stablecoins. Cosimo Ventures managing partner Ciarán Hynes said:

“The Oneiro team has made significant progress this year, and these new funds will allow the team to further develop multiple blockchain technologies, extend into the crypto ecosystem, and accelerate the adoption and use of various blockchain applications, including digital virtual currencies such as ndau.”

Crypto hedge fund leads $5 million seed round

Cointelegraph recently reported that Pantera Capital led a $5 million strategic seed round of decentralized derivatives protocol Vega. The funding round included participants such as Ripple’s investment arm Xpring, Hashed, NGC Ventures, gumi Cryptos Capital, Rockaway Blockchain, KR1, Eden Block, Focus Labs and Greenfield One.

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