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SolRazr has closed a $1.5 million funding round.
SolRazr to Build on Solana
Solana-based venture platform SolRazr has unveiled the first decentralized developer ecosystem for the Solana blockchain, comprising Launchpad, Accelerator, and Developer Tools.
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. Sreekanth Kalapur, a co-founder of SolRazr, said of the update:
“Solana will power SolRazr to help projects raise capital at lightning speed and to help investors contribute at negligible transaction costs. 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.”
SolRazr will have a unique allocation model for retail investors, leveraging NFTs on Solana.
A Proof-of-Stake blockchain with a pBFT-derived consensus mechanism and 200 nodes operating worldwide, Solana is capable of 50,000 transactions per second 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.
Vijay Kalangi, a co-founder of SolRazr, added:
“Blockchains and cryptocurrencies are gaining mainstream adoption with growing interest from institutional investors. However, we’re still very early and not even at 1% 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.”
SolRazr recently closed a $1.5 million funding 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.
Moonrock Capital Managing Partner Jonathan Habicht said of the raise:
“Moonrock Capital is thrilled to be part of the SolRazr journey. 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.”
Oliver Blakey, Ascensive Assets Managing Partner, added:
“SolRazr offers serious builders an ideal platform to raise funds and innovate on Solana, and for investors to participate in the ecosystem.”
SolRazr is the first decentralized developer ecosystem for Solana, offering Launchpad, Accelerator, and Developer Tools. The project is excited to share SolRazr with the world of crypto and with everyone willing to develop and participate. The team believes that DeFi should mean that everyone gets an opportunity to invest in a project that can help shape their lives. The project chose to build and host its platform on Solana, which is the future of DeFi and Web3.
Solana is a high-performance Proof-of-Stake blockchain focused on delivering scalability without sacrificing decentralization or security. Until now, blockchains have been single-threaded computers, guaranteeing no two transactions conflict if executed in parallel. Solana unlocks concurrent GPU-parallelization for the first time, using Proof-of-History, a clock before consensus, delivering high speed, low latency, and inexpensive transactions, all at layer 1 without sharding.
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For more information, contact Sreekanth Kalapur at [email protected]
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