Chain Reaction raises $70 million in Series C round led by Morgan Creek Digital

Chain Reaction, a hardware maker focused on blockchain infrastructure and privacy, привлек $70 million in a Series C round led by Morgan Creek Digital.

Among participants: Hanaco Ventures, Jerusalem Venture Partners, KCK Capital, Exor, Atreides Management and BlueRun Ventures.

The round brought the company’s total capital raised to $115 million.

The startup will use the funds to expand its engineering and development team. The division currently employs 100 people, including former Nvidia, Mellanox, Israeli Intelligence and TSMC veterans.

The financing will enable Chain Reaction to accelerate the deployment of enterprise-grade blockchain products — application-specific integrated circuits (ASIC) and the hardware based on them.

The team also plans to scale privacy-focused technologies related to cloud computing.

“Additional investments will ensure that Chain Reaction can focus on developing and delivering products for two target markets. This includes using high-performance blockchain and privacy hardware in data centers and in the cloud, and creating advanced solutions for segments that are still in their infancy”, — the statement said.

Chain Reaction expects the first chips and hardware systems to be publicly available in the first quarter of 2023.

As reported in October 2022, Morgan Creek Digital, together with Brevan Howard Digital led a $40 million funding round for the gaming NFT startup Horizon Blockchain Games.