Crypto Wallet MetaMask’s parent company Consensys announced a $450 million Series D funding round yesterday in participation with prominent industry experts and investors. With the announcement of the Series D funding round, ConsenSys valuation has doubled since its last fundraiser in November and is currently valued at $7 billion.
Microsoft Ventures Into Web3 With Investment In Metamask’s Consensys
Blockchain startup Consensys announced a series D funding round on Tuesday, which was led by ParaFi Capital and had leading companies such as Microsoft, Softbank, Temasek, Third Point, Marshall Wace, True Capital Management and UTA VC, United Talent Agency’s venture fund, Sound Ventures and C Ventures as leading participants.
Headquartered in New York City, ConsenSys is the parent company of MetaMask, an Ethereum based crypto wallet that seamlessly supports cross crypto transactions.
Consensys’s series D funding comprises a rare investment from Microsoft, a company that had earlier invested its stake in Palm NFT Studios, a venture led by ConsenSys’s founder Joseph Lubin.
Microsoft’s investment in ConsenSys signals the growing interest of tech organizations in the world of web3 and blockchain, a sector that relies heavily on the elements of decentralization and focuses on making the internet more blockchain-oriented infused with token-based economics.
As per sources, ConsenSys is viewed by many tech firms as an emerging company that may spearhead Web3 activities in the future. The company, since its launch, has attracted several investments that power its vision to explore the emerging sector of Decentralized Finance and NFTs.
ConsenSys was founded in early 2015 by Joseph Lubin, co-founder of Ethereum, as a “software foundry to develop decentralized software and applications that operate on the Ethereum blockchain.” The company’s notable products include MetaMask, an Ethereum based crypto wallet, and Infura, a suite of tools that help developers create applications on the Ethereum Blockchain.