SolRazr Raises $1.5 Mn In Seed Funding The company aims to support the growth of decentralized finance (defi) on the high-performance network
By Prabhjeet Bhatla •
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Solana-based venture platform SolRazr announced to have closed a $1.5 million Seed round from Moonrock Capital, Ascensive Assets, and Morningstar Ventures. Several notable funds including Genesis Block Ventures, Divergence, Genblock Capital, CMS Holdings, PANONY, and Skynet Trading participated in the round, while angel investors such as Sam Kazemian from Frax Finance, Leo Cheng from CREAM, Santiago R Santos, and Chris McCann also contributed.
"Solana will power SolRazr to help projects raise capital at lightning speed, and to help investors contribute at negligible transaction costs," said Sreekanth Kalapur, co-founder, SolRazr. "The platform is not only fast and inexpensive but also secure and bot-proof, providing fair and truly decentralized allocations for the SolRazr community. SolRazr is not just a launchpad; we are building a platform with a host of developer tools to help anyone build fast on Solana."
The platform has unveiled the first decentralized developer ecosystem for the Solana blockchain, comprising launchpad, accelerator, and developer tools.
"Blockchains and cryptocurrencies are gaining mainstream adoption with growing interest from institutional investors," said Vijay Kalangi, co-founder, SolRazr. "However, we're still very early and not even at 1 per cent of global tech adoption in digital assets and projects. Watching SolRazr develop into the platform we have today has been truly amazing. We're only just scratching the surface of what the full-service SolRazr ecosystem is capable of, and we're looking forward to unveiling that shortly."
Designed to be the de-facto fundraising and developer platform for projects building on Solana, SolRazr aims to support the growth of decentralized finance (defi) on the high-performance network.
SolRazr will have an allocation model for retail investors, leveraging NFTs on Solana, the company said.
"Moonrock Capital is thrilled to be part of the SolRazr journey," shared Jonathan Habicht, managing partner, Moonrock Capital. "SolRazr and its core components have been created to address several adoption-critical needs of the Solana blockchain ecosystem. It is a platform designed and developed by a leading team of experts and blockchain veterans."
A Proof-of-Stake (PoS) blockchain with a pBFT-derived consensus mechanism and 200 nodes operating worldwide, Solana is capable of 50,000 transactions per second (TPS) thanks to its coordinated optimizations. Transactions are also processed in parallel by GPU hardware natively, with Solana being the only multi-threaded blockchain in the industry, the platform explained.
"SolRazr offers serious builders an ideal platform to raise funds and innovate on Solana, and for investors to participate in the ecosystem," added Oliver Blakey, managing partner, Ascensive Assets.
