Smart contracts platform CasperLabs has raised $14 million in a private token sale, the company said Wednesday.
According to the company's announcement, the token sale was led by crypto fund Digital Strategies and included investments from ZB.com/ZB Global, Gate.io, Consensus Capital and Cluster Capital.
The platform aims to solve the "scalability trilemma" of achieving scalability, decentralization and security, as well as build a platform on which developers can build and operate decentralized applications. It raised $14.5 million last year in Series A funding which CasperLabs used to expand its team.
“Less volatile gas costs and upgradeable contracts will prove game-changing for DeFi, from development through to day-to-day use. Behind the Casper protocol is a team with unmatched professionalism and expertise in decentralized protocols," said co-founder of Digital Strategies Eric Weiss.
According to the announcement, CasperLabs plans to use the funding to set up grants and support measures that "fuel further developer adoption" ahead of its early 2021 mainnet launch and public token sale.