Public Blockchain Company Tendermint Inc. Secures $9 Million in Series A Round

Tendermint, a respected public blockchain development company, announced the successful completion of their series A round.

Paradigm, a crypto asset investment company, led the $9 million round with support from prominent co-investors including Bain Capital and 1Confirmation.

Tendermint Inc secures $9M in Series A funding led by Paradigm.

Tendermint Inc. is a California-based software company that specializes in engineering public blockchains, like Cosmos Network.

"We envision a future where multiple blockchains serve specific use-cases - store of value, privacy, general purpose smart contract platforms, and many others. In this future, interoperability solutions provide crucial alchemy that could lead to an explosion of blockchain applications, as well as boosting usage on existing chains. With a strong technical team, flexible architecture and being first-to-market, Cosmos stands to become the de facto interoperability system for blockchains."

Nick Tomaino of 1Confirmation believes that Tendermint's ethos of open-source development aligns with that of the broader blockchain community-another seemingly positive point for investment.

Within five years of the launch of Tendermint Core and the Cosmos ecosystem, a plethora of blockchain projects have built their applications on both platforms.

Among these projects are Binance Dex, a decentralized exchange Binance built by forking the Cosmos Software Development Kit and Tendermint Core; the Thai National ID project for Thai citizens; and Terra, a South Korean stablecoin project.

A look at the projects listed above and other demonstrable work by the Tendermint team explains why investors are optimistic about the company.

Jae Kwon, CEO of Tendermint Inc., promised more when he mentioned that the Cosmos Network is his organization's first step towards providing solutions to problems in the blockchain industry such as low adoption, scalability problems, governance issues, and environmental challenges.