Blockchain infrastructure developer Smooth has raised $2 million in a seed funding round.
The funding round, in which Cogitent Venture, ArkStream Capital and Ian Balina’s Token Metrics participated as investors, was led by crypto investment firm NGC Ventures. Wiger Wei, co-founder of the Smooth platform, said that Smooth started its funding round in November, when FTX crashed, and completed it in January of this year. Wei declined to comment on the nature of the tour.
Smooth Testnet Will Be Launched This Year
Smooth Labs was founded in Singapore in July by Wei, a former researcher at Celestia, and Lucie Chen, a former co-founder of crypto investment firm LLC Ventures. Smooth is building blockchain infrastructure focused on parallel execution of transactions. Parallel execution allows transactions to be processed simultaneously, significantly increasing transaction speeds and reducing waiting times.
“The team behind Smooth consists of the youngest and most innovative entrepreneurs we have ever met,” said Zi Chen, partner at NCG Ventures.
Wei said they will launch a testnet in Q3 for the Smooth network, which is currently in development. According to Wei, Smooth plans to expand his team to 12 people by recruiting in the fields of engineering and business development.
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