AI translated#investments #Polkadot (DOT)

Polkadot-based Moonbeam team raises $6 million

31.03.2021 ForkLog

PureStake, the developer of Moonbeam, a smart-contract platform on the Polkadot blockchain, has closed a $6 million strategic round of funding.

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1/ We are happy to announce the completion of a $6 million strategic round of funding for the @MoonbeamNetwork, led by @CoinFund_io.

This funding will position the team for a successful launch of the Moonbeam network later this year.https://t.co/s6oVCVCB6p

— PureStake (@purestakeco) March 30, 2021

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The round was led by investment firm CoinFund. It was joined by Binance Labs, ParaFi, Coinbase Ventures, Fenbushi Capital, IOSG Ventures and other investors who participated in the seed round of funding.

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The funds will help the PureStake team to successfully launch the Moonbeam network in the Polkadot parachain in the third quarter of 2021.

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Earlier in February, the Polkadot-based smart-contract platform Plasm Network raised $2.4 million. The funding round was led by the blockchain incubator Binance Labs.

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