The Venture Capital wing of ConsenSys, the blockchain heavyweight led by Ethereum co-founder Joseph Lubin, has announced two separate investments in two early-stage blockchain startups: Ligero and PDAX.
These new investments are a part of ConsenSys’ ongoing efforts to back pre-seed and seed stage Ethereum projects across the Web 3.0 stack. The primary objective of this initiative is to bring forth a sector and geography agnostic ecosystem of blockchain companies that support one another, as well as contribute to the broader blockchain space.
Speaking on the occasion, Kavita Gupta, co-founder of ConsenSys Ventures said, “We continue to see privacy and the accessibility of exchanges to be two of the major pain-points for broader adoption of digital assets and blockchain technology. Both of these companies are taking unique approaches to solving these problems, and we are proud to lead their initial rounds of funding.”
PDAX, one of the two firms to have been picked by ConsenSys for its new investment round, is a centralized trading platform based in the Philippines. Acronym for Philippine Digital Asset Exchange, PDAX, offers users an order book to trade digital assets in an open market. It is the first-of-its-kind platform in the island nation.
Meanwhile, Ligero, the startup claiming to be the first lightweight and scalable protocol for secure multi-party computation (MPC) and zero-knowledge proofs (ZKP), bagged $1.15 million from ConsenSys Ventures. The new funding will help the company to strengthen its position as a premier platform that facilitates private and decentralized collaborations.