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Minima Secures $6.5 Million in Series A to Build Mobile-First Blockchain Network

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Tue, 10/26/2021 - 14:00
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Vladislav Sopov
With fresh funding, Minima blockchain team is ready to introduce the product's mainnet in 2022
Minima Secures $6.5 Million in Series A to Build Mobile-First Blockchain Network
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The USP of Minima merges the benefits of the DeFi and IoT segments as it allows users to turn every smartphone into a full blockchain node. As such, Minima promotes itself as the "most decentralized blockchain."

Minima completes Series A funding with $6.5 million raised

According to a press release shared with U.Today, decentralized start-up Minima has closed its Series A funding round. The total amount of funds raised from VCs and angel investors nets $6,500,000.

The list of VC investors besides Minima's Series A includes a clutch of high-profile investors, such as GSR, DEX Ventures, AGE Crypto and SMO Capital. Iconic angel investor Vinny Lingham also took part in the funding.

Hugo Feiler, CEO of Minima, stresses that the funds raised will help the product to accomplish its major milestone, i.e., to build the most decentralized network:

We are excited to announce this oversubscribed Series A fundraise. Our Mission is to create a blockchain that no one controls and everybody owns, making it completely decentralized. This  fundraising round will enable us to bring onboard the resources we need to launch Minima’s Mainnet in the middle of 2022.

Vinny Lingham emphasizes the revolutionary role Minima plays in the progress of the interaction between people and devices in terms of accessibility and connectivity:

I love to back founders who are thinking about the future differently, and I think that Minima is doing just that. I see decentralization as a vital cornerstone in the future of value and information exchange, and my investment into Minima is an investment into the next generation of connectivity, and enabling different use cases for blockchain technology. In my view, enabling everyone to easily run their own node without any third-parties involved, will put blockchain technology in the hands of everyone, literally.

5,000 nodes, 94 countries, mainnet in 2022

Minima is designed to turn every smartphone into an IoT device. Its blockchain is secured by the resource-efficient version of proof-of-work (PoW) consensus.

Launched in 2018 in London, the company is focused on low-resource devices: its primary audience includes smartphone owners across the globe.

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Right now, Minima's software is undergoing Incentivized Stress-Testing. The Minima app can be run on Android smartphones and tablets as well as on PCs with MacOS and Linux.

All "early bird" testers receive additional rewards from the team for their activity and resources.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)