Kadena Secures $2.25 Million in First Funding Round

Kadena, a smart-contract blockchain platform provider, raised $2.25 million in a pre-A financing round to develop the company’s new public blockchain. Major investors in the round included Metastable, Kilowatt Capital, Coinfund, and Multicoin Capital.

Kadena’s new public protocol, “Chainweb,” uses a “parallel-chain” architecture to push transactions speeds to 10,000 transactions per second and beyond, without sacrificing any assurance. The company’s co-founders, Stuart Popejoy and William Martino, previously led JP Morgan’s Emergent Technologies Group, and Martino also worked on the SEC’s Cryptocurrency Steering Committee.

Kadena is on a mission to become the leading blockchain platform for businesses and enterprises by solving the speed, scalability and security concerns that impede widespread blockchain deployment.