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Validation Cloud has raised $5.8 million in a funding round led by Cadenza Ventures based in San Francisco.
It marks the first time that the Web3 infrastructure company has secured funding through an external round.
Besides Cadenza Ventures, the other firms that participated in the funding round include Blockchain Founders Fund, Bloccelerate, Blockwall, Side Door Ventures, Metamatic, AP Capital and GS Futures.
Validation Cloud is setting itself apart in the Web3 industry as a data streaming and infrastructure company.
It links organizations to the Web3 industry by offering high speed and scalability.
Validation Cloud clients can access services such as staking, node, and data-as-a-service.
Validation Cloud raises $5.8 million
The co-founder of Validation Cloud, Alex Nwaka, opined that the external funding round would meet the company’s need to achieve scalability and have compliant infrastructure.
Furthermore, it would also meet the company’s mission of onboarding more Web3 entrepreneurs.
Nwaka said,
We are privileged to partner with our global investors who are accelerating the adoption of Validation Cloud’s platform by visionary networks, builders, and asset managers around the world.
Validation Cloud currently operates a proprietary system architecture to aid in breakthroughs in the Web3 space.
The system seeks to achieve a fast, scalable, and intelligent global platform that will deliver services such as Staking, Node API, and Data to Web3 users.
The Cloudflare of Web3
Because of its commitment to streamlining Web3 infrastructure, Validation Cloud has been likened to Cloudflare, earning the nickname “Cloudflare of Web3.”
The same way Cloudflare brought scaling infrastructure to Web2 and created a trillion-dollar market is the same thing Validation Cloud seeks to do for Web2.
The team behind Validation Cloud also comes with extensive experience in the blockchain industry, having been the same minds behind the proof-of-stake consensus.
The team also comprises executives from globally-recognized companies such as Uber, Deloitte, Citadel, Morgan Stanley, Binance, Crypto.com, and Figure, R3, among others.
Cadenza, which spearheaded the recent funding round, opined that Validation Cloud was a good company to invest in as it was spearheading the future of innovative technologies.
“Validation Cloud’s pioneering role in Proof-of-Stake and their relentless pursuit of next-generation Web3 infrastructure have set them apart as leaders in the Web3 space,” said the managing partner at Cadenza, Kumar Dandapani.
Dandapani also believes that Validation Cloud is well-equipped to bridge the gap between the Web2 and Web3 industries.
Validation Cloud is already working with networks to support their development using robust infrastructure.
Some companies that it has worked with include Chainlink, Hedera, Stellar, Aptos, Eigenlayer and Berachain.
The post Validation Cloud secures $5.8 million funding to onboard more Web3 entrepreneurs appeared first on Invezz
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