Sia (SC) Raises $750k Seed Round

sia-tech-homepage-2016-09-07
Sia has seen the successful completion of a sizable seed funding round. On behalf of Sia, Nebulous today has raised $750,000 led by Procyon Ventures and Raptor Group, with participation from Fenbushi Capital and angel investor Xiaolai Li. To date, Nebulous has raised $1.25M in total funding. Sia achieved its 1.0 release in June of this year and the funding will allow the team to accelerate its development and further its use by enterprises.

Sia is a collaborative data storage platform which allows users to store and retrieve large amounts of data quickly and securely.

“By using encryption, cryptographic contracts, and redundancy, Sia enables a collection of untrusted and unknown machines to be combined into a single logical cloud storage host that is faster, cheaper, and more reliable than traditional cloud storage platforms.” David Vorick, cofounder and CEO, said.

Market

According to CoinMarketCap.com SiaCoin (SC) has a current market cap of $11,430,356 on a 24 hour volume of $2,577,570 or 4,200 BTC with an available supply of 18,170,562,810 SC.

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Funding Round Participants

Procyon Ventures
Procyon Ventures is an early-stage, venture capital firm based in Boston, MA. Procyon partners with entrepreneurs solving real-world problems using data and machine intelligence, focusing on applications of frontier technologies such as AI, computational biotech, connected sensors, AR/VR, and industrial IoT.

Raptor Group
Raptor Group Holdings is a private investment company backed by the Family Office of Jim Pallotta. Mr. Pallotta has been a professional and personal investor for over 30 years.

Fenbushi Capital
Founded in 2015, Fenbushi Capital is the first China-based venture capital firm that exclusively invests in Blockchain-enabled companies.

Xiaolai Li
Angel investor.

Reference

For detailed information on this funding round visit http://sia.tech/funding2016

Forum
https://bitcointalk.org/index.php?topic=1060294.0

Website
http://sia.tech/