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October, 29 2020

Blockchain Firm Figment Raises $2.5M in Funding Round Led by Community Member Bonfire Ventures

Canada-based blockchain infrastructure provider Figment has completed another multi-million dollar funding round.

  • Announced Thursday, the startup said it raised $2.5 million in an additional funding round led by Bonfire Ventures with participation from FJ Labs, XDL Capital Group and BKCM, among others.
  • \"This new round of capital will enable Figment to continue to invest in our best-in-class blockchain staking, governance and developer tools,\" Figment\'s CEO Lorien Gabel said in a statement.
  • The funding follows a pre-seed round of $1 million in 2018 and a seed round in 2019 bringing in $1.5 million, also with participation from Bonfire, XDL and FJ Labs.
  • Gabel said the company believes in an internet where people control and profit from their own data, rather than \"large data monopolies and governments\" – an objective Figment is working to achieve.
  • The company provides infrastructure and tools for networks such as Cosmos, Polkadot, Celo and Skale, as well as offering what it calls \"institutional grade\" staking services on over 30 blockchains.