Blockchain startup Biconomy secured $9 Million led by the Digital Asset Management

Biconomy has recently secured $9 million, reports EconomicTimes.

Biconomy is founded by Aniket Jindal and Ahmed Al-Balaghi in the year 2019. It facilitates decentralized blockchain interactions and offers seamless multi-chain experiences.

The platform facilitates blockchain-based apps to offer flexible currency options, gasless transactions for gas payments in ERC20, instant cross-chain transactions, among other solutions

In an ET report, Aniket Jindal , the co-founder of Biconomy, said, "The current crypto experience is complicated. Each interaction with a decentralised application is a complicated blockchain transaction that the mainstream users don’t understand. If we are able to simplify these complexities, we believe we will be able to onboard the next billion users into the crypto ecosystem. There has been a 180-degree change in the perception of global investors in the community. Back then, when we were getting started in ’19, it was so difficult to raise money."

Some other investors in the round include the Coinfund, Bain Capital, Coinbase, Primitive Ventures, Huobi Innovation Labs, Proof Group, Ledgerprime, Genblock, Rarestone Capital, and Capital Partners.

Previously, the company had secured $1.5 million in the month of January 2021, backed by the Eden Block.

The firm will leverage new funds to propel its multi-chain transaction infrastructure for next-gen Web3.0 applications.