PARSIQ Technology nets $3m in first round backed by institutional investors

PARSIQ Technology, which aims to help compliance within blockchain, has closed a $3m funding round making its first collection of funds from institutional investors.

The investment was backed by Solana Foundation, Axia8 Ventures, Mindworks VC, Krypital Group, CoinUnited, Transfero Swiss, Elevate Ventures, Sanctum Ventures and others. A handful of angel investors also contributed to the round, including Evan Cheng, director of research at Facebook’s Novi Financial.

With the support of the fresh equity, the company hopes to obtain new strategic partners and bolster its position in the cryptocurrency ecosystem. The new investors will also help PARSIQ with product development, go-to market strategies and marketing.

As part of the deal, PARSIQ will work with Solana Foundation to bring its smart-triggers solution to Solana ecosystem projects, enabling them to easily read and respond to blockchain data without needing to build custom solutions.

The PARSIQ platform currently supports major blockchains like Bitcoin and Ethereum as well as Solana, Binance Smart Chain and more.

Its platform connects blockchain activity to off-chain apps and devices, helping companies with compliance and trading.

PARSIQ CEO Tom Tirman said, “We are excited to have received the support of this diverse and highly regarded set of crypto ecosystem participants.

“While our runway was more than sufficient from our earlier raise, we felt that to guarantee the success of our project, we needed additional support from major players. With their help, we will be able to mount the strongest marketing and development push for PARSIQ yet.”

The FinTech previously raised funds through a public token sale in 2019.

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