$5 Million Funding Round Secured by Boston-Based Blockchain Company

The blockchain solution company, Oneiro just announced that it had secured a $5 million investment from Cosimo Ventures. 

Published in a press release on October 3rd, the Boston-based provider of high-performance blockchain solutions said that it was able to secure a $5 million investment from Cosimo Ventures in a Series B funding round.

For those that don’t know, Cosimo Ventures is an investment firm which involves itself in several different spaces such as blockchain, cryptocurrency and the Internet of Things.

This is the second funding round for by COSIMO to Oneiro. The first being in February last year with $3 million. This brought the total venture capital investment to date $8 million. 

Prior to this, Cosimo Ventures and Oneiro joined to launch the unpegged digital currency, ndau, which the press release claims, addressing certain pain points associated with other stablecoins. 

“Another investment into Oneiro, is another investment for the advancement of the entire blockchain ecosystem,” said Ciarán Hynes, Managing Partner at Cosimo Ventures, “Oneiro has proven its development expertise in the blockchain space particularly following the launch of ndau. The Oneiro team has made significant progress this year, and these new funds will allow the team to further develop multiple blockchain technologies, extend into the crypto ecosystem, and accelerate the adoption and use of various blockchain applications, including digital virtual currencies such as ndau.”

Speaking on the matter, Dhesi Ananchaperumal, CEO of Oneiro said:

“I am absolutely thrilled to be joining the Oneiro team, in order to accelerate the growth of services offered by Oniero, especially during this exciting investment period. My past experience and expertise will allow me to drive new innovation and partnerships, and identity adjacent areas of opportunity that leverage established core competency of blockchain development.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!