CasperLabs, which is building an open-source blockchain platform, has raised an undisclosed amount of funding. The investor was Draper Goren Holm, Tim Draper’s venture studio.
Los Angeles, CA – Billionaire investor Tim Draper’s Los Angeles-based venture studio, Draper Goren Holm, announces today their equity investment into CasperLabs.
CasperLabs is building an open-source blockchain platform powered by the Correct-by-Construction (CBC) Casper Proof-of-Stake consensus protocol. Built to scale opportunity for everyone in the blockchain ecosystem, CasperLabs is designed for real-world applications without sacrificing usability, decentralization, security or scalability.
On March 31st, the team debuted its incentivized Testnet, fully subscribed with 20+ participating validators including HashQuark, Staked.Fish, SNZ Pool, and more.
Blockchain networks today have yet to achieve widespread adoption for both businesses and consumers, and CasperLabs represents an essential step in moving the space forward. The protocol is built for decentralization, speed, and security with no compromises and includes features such as predictable platform economics to scale as you scale, familiar languages, and workflows that enable frictionless building, upgradeable infrastructure, and versioning, and more.
Between Draper Goren Holm and the Draper Venture Network, CasperLabs will gain access to additional capital investments plus corporate partnerships through the venture studio and the other portfolio companies in the venture network.
Mrinal Manohar, CEO of CasperLabs, notes, “We are humbled and excited about the support from legacy venture studio Draper Goren Holm. We look forward to delivering several more interesting technical updates in the coming months and welcome any and all feedback.”
“The team at CasperLabs has built an essential platform for real-world applications allowing virtually anyone to leverage blockchain technology without sacrificing the essential components of usability, cost, decentralization, or security. We’re excited to welcome them to the Draper Goren Holm family,” says Alon Goren, Founding Partner at Draper Goren Holm.
Josef Holm, Founding Partner at Draper Goren Holm, added CasperLabs is building the next generation of smart contract platforms, and we are excited to invest in their strong team and vision.
CasperLabs is the blockchain platform purpose-built to scale opportunities for everyone. Building toward blockchain’s next frontier, CasperLabs is designed for real-world applications without sacrificing usability, cost, decentralization, or security. CasperLabs removes the barriers that prevent mainstream blockchain adoption by making blockchain-friendly to use, open to the world, and future-proof to support innovations today and tomorrow. Guided by open-source principles and built from the ground up to empower individuals, the team seeks to provide an equitable foundation made for long-lasting impact.
For more info, visit https://casperlabs.io/
About Draper Goren Holm
Draper Goren Holm, a partnership between Tim Draper, Alon Goren, and Josef Holm, is a venture studio focused on accelerating and incubating early-stage blockchain and fintech startups, while simultaneously producing leading blockchain and cryptocurrency events, Security Token Summit and LA Blockchain Summit. Portfolio companies include Totle, Ownera, Innovesta, LunarCrush, Degens, Giftz, Vertalo, Coinsquad, CasperLabs, Element Zero, DeFi Money Market, and more.
For more info, visit https://drapergorenholm.com.