DLT Platform Hedera Hashgraph Completes $100 Million Raise

Decentralized ledger startup Hedera Hashgraph has raised $100 million to build out its platform and launch its network, the firm said Wednesday.

AccessTimeIconAug 1, 2018 at 11:59 a.m. UTC
Updated Sep 13, 2021 at 8:14 a.m. UTC

Hedera Hashgraph has raised $100 million in a new funding round.

According to CEO and co-founder Mance Harmon, the funding will be used to finish developing and launching the startup's network..

Going forward, Harmon continued, the plan is to raise a further $20 million through a public initial coin offering (ICO) that will be open only to accredited investors.

Harmon said he could not name most of the investors in the $100 million round, though he noted that Blocktower's Ari Paul did contribute, and that Hedera employees contributed roughly 10 percent of the total.

All of the funds will go toward improving Hedera's public ledger, he said, adding:

"We're taking that tech, the hashgraph, and trying to address the problems we see in the market that prevent mainstream adoption of public ledger technology and there's really four categories."

The funding is part of the $18 million raised through a private token sale earlier this year, as CoinDesk reported in March. At the time, the company said that game developer MZ – maker of apps like Mobile Strike – would create distributed apps that would run on the Hedera Hashgraph platform.

Dollars image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.