Flare Raises $11.3M in New Investment Round

Flare Raises $11.3M in New Investment Round


Flare, the blockchain network running on the Federated Byzantine Agreement (FBA) consensus mechanism, has raised $11.3M in its latest fundraising round. Contributions to Flare came from a slew of prominent names in crypto including Digital Currency Group, Coinfund, Kenetic Capital, LD Capital, cFund, Borderless Capital, Wave Financial, and Backend Capital.

Angel investors who participated in this round include Litecoin’s founder Charlie Lee, Vinny Lingham, and Do Kwan. Additional investors included Newform Capital, Genesis Capital, OKEx/Dreamfund, ZB Group, Defi Capital, and Ripple.

Flare’s CEO, Hugo Philion, commented: “The investment announced today demonstrates a belief in Flare from key participants in the investment community, together with key exchanges, market makers, blockchain founders and entrepreneurs.

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“This builds an even stronger and more connected community around Flare that can drive meaningful developments and participation. We are grateful for all investors’ support in helping bring the Flare Network to fruition.”

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