- Validation Cloud announced it secured $5.8 million in a funding round led by Cadenza Ventures.
- The Switzerland-based company will use the funding to accelerate adoption of its infrastructure to help with enterprise adoption of Web3.
Validation Cloud, a Switzerland-based Web3 data streaming and infrastructure firm, has secured $5.8 million in a funding round led by Cadenza Ventures.
This is Validation Cloud’s first external financing round and funds raised will go towards promoting global enterprise adoption of Web3.
According to details in a press release, the oversubscribed round also attracted the participation of prominent global venture firms, including Blockchain Founders Fund, Blockwall, Bloccelerate, Side Door Ventures, GS Futures, Metamatic and AP Capital.
Validation Cloud to help Web3 enterprise adoption
Zug-based Validation Cloud is one of the leading providers of high performance, scalable products in staking, node and data to clients across the globe.
The company’s team include pioneers in proof-of-stake, validation cloud who have built for global industry giants such as Uber, Deloitte, Morgan Stanley and Citadel. Other major companies include Binance, Workday, Crypto.com and R3.
Describing itself as a talent-first company, Validation Cloud has employees across the world. Its operations include providing infrastructure support to companies and platforms in their early stages of development.
Alex Nwaka, the co-founder of Validation Cloud, noted in a statement that scalable and compliant infrastructure is needed to help “onboard the influx of enterprises embracing Web3.”
The partnership with global investors accelerates the adoption of Validation Cloud’s suite of products by networks, builders, and asset managers, he added.
Kumar Dandapani, managing partner at Cadenza, commented:
“At Cadenza, we do not invest in just any company; we invest in the future of transformative technologies. Validation Cloud’s pioneering role in Proof-of-Stake and their relentless pursuit of next-generation Web3 infrastructure have set them apart as leaders in the Web3 space.”
“Cadenza is proud to lead this round and support Validation Cloud’s mission to bridge the gap between traditional enterprises and the expansive power of Web3,” Dandapani added.
Validation Cloud has partnered with established blockchain networks such as Chainlink, Stellar and Hedera, as well the emerging Aptos, Eigenlayer, and Berachain.
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