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Blockchain Firm Figment Raises $2.5M in Funding Round Led by Bonfire Ventures

Figment said the latest round will enable it to continue developing its blockchain staking, governance and developer tools.

Oct 29, 2020 at 1:06 p.m. UTC
Updated Sep 14, 2021 at 10:25 a.m. UTC

Canada-based blockchain infrastructure provider Figment has completed another multi-million dollar funding round.

  • Announced Thursday, the startup said it raised $2.5 million in an additional funding round led by Bonfire Ventures with participation from FJ Labs, XDL Capital Group, and BKCM, Lemniscap among others.
  • "This new round of capital will enable Figment to continue to invest in our best-in-class blockchain staking, governance, and developer tools," Figment's CEO Lorien Gabel said in a statement.
  • The funding follows a pre-seed round of $1 million in 2018 and a seed round in 2019 bringing in $1.5 million, also with participation from Bonfire, XDL, Lemniscap, and FJ Labs.
  • Gabel said the company believes in an internet where people control and profit from their own data, rather than "large data monopolies and governments" – an objective Figment is working to achieve.
  • The company provides infrastructure and tools for networks such as Cosmos, Polkadot, Celo, and Skale, as well as offering what it calls "institutional-grade" staking services on over 30 blockchains.

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