S. Korean Lambda265 Nabs $60M Sequence B at $300M Valuation

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Lambda265, the blockchain arm of South Korean crypto alternate operator Dunamu, closed a $60 million (KRW 71 billion) Sequence B, bringing its valuation to $300 million, in keeping with a Wednesday press release.

  • The agency will use the funds to put money into its blockchain-as-a-service (BaaS) merchandise, that are utilized by 3,300 company shoppers, in keeping with the assertion. Its flagship platform, Luniverse, helps corporations construct and handle blockchain techniques.
  • Shinhan Enterprise Capital, Daelim, KB Investments, and SBI Investments, that are new buyers to the corporate, additionally use Lambda265′s BaaS merchandise, the press launch stated.
  • Its proprietor Dunamu, in addition to Hanhwa Techniques, Chong Kun Dang, Yanolja, VTI Companions, and DSC Investments additionally participated within the spherical.
  • Dunamu operates Upbit, certainly one of South Korea’s largest crypto exchanges.
  • Lambda265 raised $15 million in a Sequence A in February, in keeping with its website.

Learn extra: South Korea Delays Plans to Tax Crypto to 2023