Horizen Labs Raises $4 Million in Seed Round

Horizen Labs, Inc. has launched as a blockchain development company that enables businesses to deploy proprietary blockchain solutions that are fast, secure, private, and scalable. Though it initially aimed to raise $2 million, the project raised $4 million in seed funding from Digital Currency Group, Liberty City Ventures, and independent investors.

Horizen Labs CEO Robert Viglione said: “We have seen considerable demand from customers and businesses for custom blockchain solutions that are not expensive and time-consuming to build. Through Horizen Labs’ proprietary Sidechain-as-a-Service platform, we aim to let companies benefit from the high-level security of Horizen, a privacy-focused blockchain platform with the largest node network in the industry. Our platform removes development obstacles and offers fast, simplified deployment and integration, as well as pre-built functional sidechains.”

Horizen Labs will respond to the market demand for a Sidechain-as-a-Service product by piloting design partnerships with third-party enterprises seeking to implement blockchain. The company looks to bring cutting-edge blockchain research and development to the stage of real-world use cases. In order to do so, Horizen Labs is working with design partners in different verticals to be able to bring its first sidechain solutions to market.

Barry Silbert, Founder and CEO of Digital Currency Group, said: “Horizen Labs provides a seamless way for businesses to incorporate customized digital ledger technology into their operations, removing a significant barrier to blockchain adoption and advancing the industry as a whole. We are thrilled to support Rob and his team as they continue to develop the Horizen platform.”

Author: Yash Hirani

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