Newly-started blockchain innovation startup Horizen Labs has brought $4 million up in a seed financing round. $4 Million raised in seed funding round by blockchain startup Horizen Labs.
Along with independent investors, the companies taking part in the round were VC firms Digital Currency Group (DCG) and Liberty City Ventures.
Horizen Labs was officially launched April 11th. The startup, based in the U.S. spun off of Horizen (formerly ZenCash). However, it was initially looking to raise $2 million, but in an announcement, last Thursday, disclosed that it received double its target amount.
Horizen Labs said it will construct economical, time-effective, and adjustable blockchain solutions that can be tailor-made for organizations with the capital to fund the projects.
In order to remove the need for organizations to spend their resources on development, Horizen Labs offers a proprietary sidechains-as-a-service platform. Also, the firm claims that this service allows for quicker deployment of existing systems using pre-built functional side chains.
Horizen Labs CEO, Robert Viglione, stated that they have seen impressive interest from clients and organizations. This includes custom blockchain arrangements that are not costly, nor tedious to manufacture.
“Through Horizen Labs’ proprietary Sidechain-as-a-Service platform, we aim to let companies benefit from the high-level security of Horizen, a privacy-focused blockchain platform with the largest node network in the industry”.
Horizen is working in various business areas with design partners to bring its first sidechain solution to market. Similarly, third-party businesses seeking to implement blockchain into their operations can have the firm pilot design partnerships with them.
Barry Silbert, DCG founder and CEO said Horizen provides:
“a seamless way for businesses to incorporate customized digital ledger technology into their operations, removing a significant barrier to blockchain adoption and advancing the industry as a whole.”