Multicoin Capital and Coinbase invested directly in two blockchain startups

Large venture capital firms Multicoin Capital and Coinbase Ventures made two joint investments in start-ups NEAR and Textile.

A Series A round of financing for NEAR was led by Metastable and Accomplice. Other participants include Pantera Capital, ACapital and Xpring from Ripple, as well as well-known business angels Nawal Ravikant, Andrew Keyes and Balaji Srinivasan. In total, the startup managed to attract $ 12.5 million.

?? We're excited to announce our beta program. ? ?

Details: https://t.co/jag9f2Zhen [BLOG] #FutureIsNEAR pic.twitter.com/PdWz5BwewJ

– NEAR Protocol (@NEARProtocol) July 10, 2019

Thus, NEAR is developing a public blockchain based on Proof-Of-Stake with the implementation of sharding, due to which, in theory, there are no restrictions on network bandwidth. The developers intend to solve the problems of scaling and user experience, however, to begin with, they will attract other developers to create decentralized applications.

The NEAR team has already included developers from Facebook, Google and Niantic, and was headed by a former Microsoft employee Alexander Skidanov. Note that the early version of the NEAR sharding protocol is already ready, while their closest competitor Casper Labs has not yet introduced any working product.

The Textile startup attracted $ 1.5 million to create an IPFS- based solution that will allow users to interact with decentralized file storages in a completely new way. The developers intend to create an analogue of iCloud for Web 3.0.

Woot! Nice @coindesk coverage of our funding round https://t.co/Qp3p7Ekw45 . Here's a bit more, https://t.co/1eTIFoiXMd

– Textile (@textileio) July 11, 2019

The investment round was also attended by the BlueYard Capital and Collaborative Fund.

It is noteworthy that this week another developer of a decentralized data warehouse attracted funding in the amount of $ 3.25 million. This is about the Boston company Nebulous, whose main product is Sia Network. The round was led by Bain Capital Ventures, joined by Bessemer Venture Partners and Dragonfly Capital Partners.

A round of 3M funding for led by @BainCapVC with a group of investors! Read more on our official press release and stay tuned! https://t.co/DAYB6YGSyu pic.twitter.com/tvj8HnrtrS

– Sia (@SiaTechHQ) July 10, 2019

Earlier, Coinbase, Accomplice and Multicoin Capital invested in Torus, developing a solution for managing private keys.

The total investment attracted by blockchain startups in 2019 is already estimated at $ 822 million.

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