CasperLabs, a US-based open-source blockchain protocol developer, has secured $14.5m in a series A round featuring Hashkey Capital, a subsidiary of digital assets research group Hashkey.
The round was led by investment vehicle Acuitas Group Holdings and also featured Arrington XRP Capital, Consensus Capital, Axiom Holdings Group, Digital Strategies, MW Partners and Distributed Global.
Founded in 2018 as a subsidiary of decentralised software company Adaptive Holdings, CasperLabs runs an open-source blockchain protocol that enables software developers to more easily create, connect and scale blockchain-powered services.
CasperLabs’ technology penalises malevolent blockchain clients and exploits what is known as a proof-of-stake protocol to reconcile mining requests from different nodes on a network.
Proceeds from the series A round, the first equity funding to be disclosed by CasperLabs, will go toward product development and the hiring of additional engineers.