EMURGO Ventures boosts Web3 portfolio portfolio with 2 deals

EMURGO Ventures boosts Web3 portfolio portfolio with 2 deals

EMURGO Ventures has made two new investments, as it bolsters its Web3 portfolio.

EMURGO Ventures is the investment division of EMURGO, which is the blockchain offering from Cardano.

This investment arm launched in September 2021 and is investing in both Cardano blockchain-native and non-Cardano blockchain Web3 projects. Its aim is to deliver high-impact interoperable products and services to Cardano user base.

The first of the investments was into On-Chain Autonomous Kernel (OAK). This is a Web3 hub for trustless, automated decentralised finance and digital payments.

Its platform allows transactions to be executed by specific even signals, such as time, price and smart contract state changes. It claims to improve the operational efficiency of the Cardano blockchain, powered by automation infrastructure.

EMURGO Ventures second investment was into SubQuery. This is an open-source blockchain data indexer for developers that provides fast, flexible, reliable and decentralised APIs to power multi-chain apps.

It claims to support the Cardano blockchain through APIs to various Cardano ecosystem projects, including DeFi, NFTs and wallets.

Kaimin Hu, venture partner at EMURGO Ventures, said, To accelerate the acceptance and understanding of Web3, our industry must always stay focused on building real products that provide vastly better services than existing ones.

?EMURGO Ventures is deeply committed to investing in and building the future of the Cardano ecosystem regardless of market cycles. The recent investments that EMURGO Ventures has made aim to diversify Cardano’s future Web3 ecosystem with a wider range of interoperable products, services, and developer tools.span>

Cardano is an open-source and decentralised blockchain, which uses an environmentally friendly, proof-of-stake consensus protocol.

There have been some sizable deals this month in the blockchain and cryptocurrency sector. Digital assets financial services platform Matrixport recently secured $100m in a fresh funding round.

Another major investment was made into Matter Labs. The company has built a solution that reduces the cost of Ethereum transactions and has secured $200m in its Series C round.

Copyright ? 2022 FinTech Global

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