SIMBA Chain, a blockchain startup based in South Bend, Indiana, has raised $ 25 million in Series A funding to make blockchain more accessible.
The round was led by Valley Capital Partners and featured major investors such as Notre Dame Pit Road Fund, Elevate Ventures, Stanford Law School Venture Fund and individuals with Kohlberg, Kravis & Roberts (KKR), Amazon, Apple, Facebook, SpaceX , Gap, Estee Lauder, AppLovin, Microsoft, Moelis & Company, Stanford University and the Golden State Warriors.
Blockchain technology has gained acceptance among businesses and independent developers, a trend fueled by the popularity of cryptocurrencies. This has sparked a surge in interest from investors looking to fund the next big thing in crypto. Steve O’Hara, Managing Partner at Valley Capital Partners of Menlo Park, California, said about the company’s participation in the round.
“Since its inception in 2017, SIMBA Chain has distinguished itself by solving the incredibly difficult problem of making blockchain technology, inherently complex and difficult to master, accessible to literally anyone who wants to realize the benefits of blockchain. Thanks to the intellectual depth and insatiable curiosity of his team, SIMBA Chain has managed to establish impressive bridgeheads in the defense and corporate markets – a rarity seen in emerging frontier technologies like blockchain. We look forward to supporting SIMBA Chain at this crucial time. “
Since its inception, the startup has raised $ 28.5 million in funding to help ease the barriers preventing new developers from harvesting blockchain technology, as well as reducing energy consumption. Launched at Notre Dame University as a project aimed at making different blockchain networks more accessible in different ways, Simba Chain eventually turned to Web3 smart contracts. Joel Neidig, CEO and co-founder of SIMBA Chain, referred to the startup’s technology with the words:
“Demand for our Web3 smart contracts platform has accelerated much faster than expected in all of our markets. Users from multiple spectra have adopted and validated the SIMBA chain model, which simplifies the development of smart contracts. The market has also responded positively to our support for multiple blockchains including Ethereum, Avalanche, RSK, Stellar and many others that make SIMBA chain-based applications simple, highly portable and sustainable. “
The blockchain startup said it plans to use the funding to scale its sales, marketing and development efforts while allocating resources for emerging enterprise-level opportunities to capitalize on the non-fungible token craze.