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Updated on: Wednesday, September 08, 2021, 12:42 PM IST

Solana-based venture platform SolRazr raises $1.5 mn in Seed funding

SolRazr is a venture platform based on Solana blockchain | NikolayFrolochkin

SolRazr is a venture platform based on Solana blockchain | NikolayFrolochkin

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Solana-based venture platform SolRazr recently closed a $1.5 million seed round from Moonrock Capital, Ascensive Assets, and Morningstar Ventures. Several notable funds including Genesis Block Ventures, Divergence, Genblock Capital, CMS Holdings, PANONY and Skynet Trading participated in the round, while angel investors such as Sam Kazemian from Frax Finance, Leo Cheng from CREAM, Santiago R Santos and Chris McCann also contributed.

“Moonrock Capital is thrilled to be part of the SolRazr journey,” said Jonathan Habicht, the firm’s Managing Partner. “SolRazr and its core components have been created to address several adoption-critical needs of the Solana blockchain ecosystem. It is a platform designed and developed by a leading team of experts and blockchain veterans.”

"SolRazr offers serious builders an ideal platform to raise funds and innovate on Solana, and for investors to participate in the ecosystem,” added Ascensive Assets’ Managing Partner Oliver Blakey.

SolRazr's developer ecosystem

SolRazr has unveiled the first decentralized developer ecosystem for the Solana blockchain, comprising Launchpad, Accelerator, and Developer Tools.

Designed to be the de-facto fundraising and developer platform for projects building on Solana, SolRazr aims to support the growth of decentralized finance (defi) on the high-performance network.

"Solana will power SolRazr to help projects raise capital at lightning speed, and to help investors contribute at negligible transaction costs,” said Sreekanth Kalapur, Co-Founder of SolRazr. “The platform is not only fast and inexpensive but also secure and bot-proof, providing fair and truly decentralized allocations for the SolRazr community. SolRazr is not just a launchpad; we are building a platform with a host of developer tools to help anyone build fast on Solana," Kalapur claimed.

SolRazr will have a unique allocation model for retail investors, leveraging NFTs on Solana. A Proof-of-Stake (PoS) blockchain with a pBFT-derived consensus mechanism and 200 nodes operating worldwide, Solana is capable of 50,000 transactions per second (TPS).

"Blockchains and cryptocurrencies are gaining mainstream adoption with growing interest from institutional investors,” said SolRazr Co-Founder Vijay Kalangi. “However, we’re still very early and not even at 1 percent of global tech adoption in digital assets and projects.

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Published on: Wednesday, September 08, 2021, 12:42 PM IST
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