Home
Internet
Internet News
Bitcoin Startup 21 Inc Reportedly Raises $116 Million in Venture Funding

Bitcoin Startup 21 Inc Reportedly Raises $116 Million in Venture Funding

By Reuters | Updated: 11 March 2015 12:53 IST

Click Here to Add Gadgets360 As A Trusted Source

Silicon valley startup 21 Inc has raised $116 million (roughly Rs. 728 crores) in venture funding to help broaden the uses of Bitcoin technology, the Wall Street Journal reported.

21 Inc's lead investors include venture capital firms such as Andreessen Horowitz and RRE Ventures, with chipmaker Qualcomm Inc owning a strategic stake through its venture-capital unit, according to the Journal.

San Francisco-based 21 Inc has not disclosed an independent valuation or how it plans to use the funds, the Journal said on Tuesday.

Chief Executive Officer and co-founder Matthew Pauker indicated "several interesting developments over the next weeks and months" that will deal with products designed "to drive mainstream adoption of Bitcoin", the Journal reported.

© Thomson Reuters 2015

Cryptocurrency Prices across Indian exchanges

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.