On Tuesday, ConsenSys, a leading Ethereum software and decentralized protocol company with product groups such as MetaMask, Infura and Truffle, announced the completion of a $450 million Series D funding round led by ParaFi Capital. Among the most important new investors are Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures, C-Ventures. The value of the deal has doubled since the company raised $200 million in Series C in November 2021.

The proceeds from the round will be partially transferred to Ether (ETH) to balance the ratio between ETH and USD equivalents in the ConsenSys treasury. The company is actively seeking to leverage its own financial infrastructure to profit from these assets across decentralized finance (DeFi), protocols, and staking. Revenue will also support the MetaMask extension, which is scheduled for release in late 2022, as well as the launch of a plugin extension system that will allow integration with a wide range of blockchain protocols and account security systems.

In January of last year, MetaMask’s monthly active users exceeded 30 million, up 42% from four months. With the wallet, users can generate and collect non-fungible tokens, join decentralized autonomous organizations, and participate in DeFi protocols. Meanwhile, over 430,000 developers use the Ethereum Infura development platform. Its Ethereum API now supports over $1 trillion in annual transaction volume on the ETH network.

Joseph Lubin, founder and CEO of ConsenSys, commented on the development as follows:

“I think of ConsenSys as a broad and deep machine for a decentralized ecosystem of protocols, able to quickly take advantage of emerging fundamentally new builds on a large scale. Series D that will enable us to implement sustainable growth strategies.”

Source: CoinTelegraph

LEAVE A REPLY