Blockchain App Development startup Simba Chain secured $25 Million funding

Simba Chain

Simba Chain, a blockchain app development startup has now secured $25 million in a Series A funding round.

Simba Chain is founded by Joel Neidig. The blockchain startup offers a time and energy efficient method for deploying blockchain technology in the most complex and secure environments. Simba Chain's technology automatically generates a family of APIs that support permissioned and public blockchains, which allows customers to launch blockchain applications without technology expertise or consultants.

The platform supports the Binance Smart Chain, Hyperledger, Consensys Quorum, Ethereum, Avalanche, RSK, Stellar, and some other blockchain protocols.

Executive Opinion

Joel Neidig, SIMBA Chain CEO, and co-founder said, "Demand for our Web3 smart contracts platform has accelerated across all of our markets much quicker than we anticipated. Users across multiple spectrums have embraced and validated the SIMBA Chain model, which simplifies development of smart contracts. The market has also responded positively to our support of multiple blockchains, including Ethereum, Avalanche, RSK, Stellar, and many others, making SIMBA Chain-based applications simple, highly portable and sustainable."

Steve O’Hara, the managing partner at Valley Capital Partners of Menlo Park, California, said, "Since its founding in 2017, SIMBA Chain has distinguished itself by solving the incredibly hard problem of making blockchain technology, which is inherently complex and difficult to master, accessible to literally anyone who wants to realize the advantages blockchain has to offer. Thanks to the intellectual depth and insatiable curiosity of its team, SIMBA Chain has succeeded in establishing impressive beachheads in the defense and enterprise markets – a rare thing to see in emerging frontier technologies like blockchain. We are excited to support SIMBA Chain at this pivotal time."

Simba Chain's Latest Funding

The Valley Capital Partners led the latest funding round. Other participating investors include Notre Dame Pit Road Fund, Stanford Law School venture Fund, Elevate Ventures, and individuals affiliated with the Kravis & Roberts (KKR), Kohlberg, Facebook, Apple, Amazon, SpaceX, Estee Lauder, Microsoft, Moelis & Company, the Golden State Warriors and New Enterprise Associates.

The blockchain startup, as of now, has plans to use the new funding to scale sales, development, and marketing teams. Simba Chain will further dedicate resources to emerging enterprise-level opportunities such as NFT (Non-Fungible Tokens).

Post funding, Steve O’Hara, Valley Capital Partners; Phil Koen, former CEO of Savvis and Mike Lempres, former EIR at Andreessen Horowitz, will join the Simba Chain Board of Directors team, notes the announcement.

PC: Pixabay

Note: We at TechSutram take our ethics very seriously. More information about it can be found here.
Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

No comments:

Post a Comment

    Your valuable comments are welcome. (Moderated)