Blockchain Startup Arcana Raises $375K Seed Funding From Coinbase’s Balaji Srinivasan And Others
- ByStartupStory | July 13, 2021
Bengaluru-based Arcana Network, the storage layer of Ethereum, with a privacy stack for DApp developers on EVM compatible chains, has raised a seed round from investors Balaji Srinivasan, former CTO of Coinbase, Kendrick Nguyen, Founder and CEO of Republic Sandeep Nailwal and JD Kanani, Founders of Polygon (formerly Matic), Kendrick Nguyen, and other top angels in the crypto ecosystem. The $375,000 seed fundraise also saw involvement from strategic investors and some of the biggest innovators in the blockchain industry such as General Partner at ParaFi Capital, Kenetic Capital, AU21, Santiago Santos, General and John Lilic; Siddharth Menon, Founder of WazirX; Tamar Menteshashvili from Solana; Aniket Jindal, Co-founder of Biconomy and Arcanum Capital.
Mayur Relekar, CEO of Arcana, believes: “Data privacy and security will be first-class citizens in every app’s stack. Privacy and ownership of data will be a necessity for every product and developers need easy-to-use tools to fulfil this. Arcana is built to be privacy-first and developer-friendly.” Arcana is working with developers across sectors from DeFi, NFT platforms, Social Networks, and Wallets, to traditional web 2.0 products in fintech, healthcare, and enterprise SaaS, to bring privacy and security to their data. Sandeep Nailwal, the Co-founder of Polygon (formerly Matic), said, “Arcana’s biggest differentiation is that it is a whole suite of privacy and data management tools that are super easy to set up. Developers can look to delegate their app’s storage and access control to Arcana and focus on their core value proposition.”
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