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Blockstream’s Chief Instigator (CEO), Austin Hill, has revealed in a post on the company’s blog that it raised an additional $55 million in a Series A funding round, taking total investments in the company to $76 million. Hill said that the goal of the new funds are to enhance sidechain technology, expand operations globally, and support new industry partnerships.
Hill said that during Q4 2015 they decided to accelerate the Series A financing despite having more than the initial seed investments remaining, because Blockstream’s manpower doubled and they moved out of AirBNB accommodations and into actual offices. According to him: “Growing interest in blockchain technology created an opportunity for ... (read more)