Openbazaar Raises $5M from Investors Including Bitmain

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Openbazaar Raises $5M from Investors Including Bitmain

March 13, 2018 News 0

On Tuesday, March 13, OB1, the company building the cryptocurrency-centric marketplace Openbazaar, has announced it has raised $5 million USD in a recent series A funding round. According to the startup, Omers Ventures and Bitmain Technologies were the lead investors in the funding round for the e-commerce marketplace. Also Read: Survey Finds South Korean Youth the Most Active Crypto-Investors Omer Ventures and Bitmain Lead the $5M Series A Funding Round for OB1 Openbazaar is an open source project that has built a platform that facilitates cryptocurrency infused e-commerce transactions. OB1 has launched the Openbazaar platform with its first release back in April of 2016. Since then the protocol has added many additions like a marketplace wallet, Tor integration, and enabling purchases with bitcoin cash and zcash. Over the past few years, over $4 million in venture capital has been injected into the project. Now, this week OB1 reveals it has raised another $5 million from prior investors like Andreessen Horowitz, Union Square Ventures, and the Digital Currency Group. Moreover, this series funding was led by Omers Ventures and the mining giant Bitmain Technologies. OB1’s CEO Brian Hoffman says the team is pleased to partner with Omers and Bitmain and hopes the two large firms will help bolster “the future of free trade on the Internet worldwide.” Hoffman explains during the announcement: Our goal is to see the Openbazaar protocol and software empower business owners and consumers alike to shift away from the corporate-controlled legacy systems and engage in e-commerce in a…
Source: Openbazaar Raises M from Investors Including Bitmain