New York-based blockchain startup Bison Trails has raised $25.5 million in a new funding round led by major venture capital firm Blockchain Capital. One of the 21 founding members of the Libra Association, Bison Trails is providing blockchain infrastructure solutions for more than 20 blockchain protocols to date, the firm said in an announcement on Nov. 19.
The new Series A financing round featured a number of major industry investors including venture capital firm Kleiner Perkins, American crypto exchange and wallet service Coinbase, Ethereum blockchain firm ConsenSys and crypto merchant bank Galaxy Digital.
Other new investors included Collaborative Fund, A Capital, Sound Ventures, while early investors were also represented by Initialized, Accomplice and Notation.
Bison Trails optimizes block production for over 20 protocols like Tezos and Livepeer
The new funding round follows a $5.25 million seed round backed by Michael Novogratz’s Galaxy Digital in March 2019.
As previously announced, Bison Trails is working to optimize block production and validation and is actively securing a number of protocols including Tezos, Livepeer and Decred. By providing an infrastructure for deploying participation node clusters on any protocol, the firm purportedly removes the need for customers to spend resources on developing internal blockchain protocol engineering, the firm said in a recent press release.
Bison Trails joined the Libra Association Council as one of the 21 founding members in mid-October.
Recently, an executive at ConsenSys, one of the Bison Trails’s new investors, launched a new blockchain-oriented investment firm, Aligned Capital. Sam Cassatt, the chief strategy officer at ConsenSys, announced on Nov. 15 that the firm will be seeking to raise $50 million for its first fund.