Shardeum Completes $5.4 Million Strategic Raise from Amber Group, Galxe, J17 Capital, TRGC and Others to Grow the Ecosystem in the Lead-up to Mainnet Launch

This strategic raise in the midst of a bear market demonstrates confidence in Shardeum as a highly-scalable layer-1 prioritizing decentralization and security. 

Shardeum, a highly-scalable EVM-based layer-1 blockchain deploying dynamic state sharding, announces the close of a $5.4 million strategic raise with participation from Amber Group, Galxe, J17 Capital, JSquare, and TRGC, among others. The team behind Shardeum aims to leverage the additional funding to further support the growth of the ecosystem in the lead-up to the mainnet launch later this year. 

Founded in 2022, Shardeum is a highly-scalable EVM-based layer-1 blockchain deploying dynamic state sharding to keep gas fees low and transactions per second high as participation grows. As of today (July 7, 2023), over 7.4 million transactions have taken place on the testnet, with 820K+ accounts and over 230K contracts deployed.

“The completion of this strategic raise from key participants puts Shardeum in position to expand on our mission to cultivate a global and diverse community. Given Shardeum’s consensus design and use of dynamic state sharding, validator participation is highly accessible regardless of user access to computing resources,” said Kelsey McGuire, Chief Growth Officer at Shardeum. “This raise allows us to continue to prioritize decentralization by growing our community of participants worldwide through education and other key initiatives.”

The list of participants for this strategic raise includes Amber Group, Galxe, J17 Capital, TRGC, Jsquare, Bware Labs, Tané Labs, Hyperithm Group, Luganodes, Blockchain Ventures Hub, CryptoViet Ventures, Blue7, and more.  

The $5.4 million raise follows Shardeum’s successful $18.2 million seed round in October 2022 from backers such as Jane Street, Big Brain Holdings, Struck Crypto, The Spartan Group, Ghaf Capital, DFG, CoinGecko Ventures, Foresight Ventures. 

Want to learn more about Shardeum? Visit their website at Shardeum.org, follow them on Twitter, and join their Discord. 

For media inquiries, please contact Margaret Hyde at (310) 260-7901 or Margaret(at)MelrosePR(dot)com.

About Shardeum:

Shardeum is a highly-scalable EVM-based layer-1 blockchain deploying dynamic state sharding. Dynamic state sharding helps keep gas fees low and TPS high as participation grows. Shardeum performs consensus at the transaction level and lowers the computational power needed for validator nodes. This consensus mechanism makes it possible for anyone to run a node while increasing decentralization. Through the power of dynamic state sharding, Shardeum is able to reach a solution for the blockchain trilemma by offering decentralization for everyone in the most scalable and secure way possible.