S. Korean Lambda265 Nabs $60M Series B at $300M Valuation
Lambda265, the blockchain arm of South Korean crypto exchange operator Dunamu, closed a $60 million (KRW 71 billion) Series B, bringing its valuation to $300 million, according to a Wednesday press release.
- The firm will use the funds to invest in its blockchain-as-a-service (BaaS) products, which are used by 3,300 corporate clients, according to the statement. Its flagship platform, Luniverse, helps companies build and manage blockchain systems.
- Shinhan Venture Capital, Daelim, KB Investments, and SBI Investments, which are new investors to the company, also use Lambda265′s BaaS products, the press release said.
- Its owner Dunamu, as well as Hanhwa Systems, Chong Kun Dang, Yanolja, VTI Partners, and DSC Investments also participated in the round.
- Dunamu operates Upbit, one of South Korea’s largest crypto exchanges.
- Lambda265 raised $15 million in a Series A in February, according to its website.