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Tuesday

22 June 2021

Solana Closes $314 Million Funding Round | Crypto Briefing

Solana Closes $314 Million Funding Round | Crypto Briefing


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Solana Labs has raised over $314 million in a funding round led by Andreessen Horowitz and Polychain Capital.

The project shared details of the raise Wednesday, revealing it had sold $314,159,265 worth of SOL in a funding round led by Andreessen Horowitz and Polychain Capital.

It uses a consensus mechanism called Proof of History. In a press release, Solana Labs co-founder and CEO Anatoly Yakovenko said that blockchains were at “an inflection point” and that “the next phase is onboarding 1 billion users.”.

Meanwhile, Olaf Carlson-Wee of Polychain Capital remarked on the project’s “continually growing community,” adding that he sees Solana as a complement to Ethereum.

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