Othentic Raises $4M Seed Round for Decentralized Computing

Othentic Raises $4M Seed Round for Decentralized Computing

Decentralized computing project Othentic has raised $4 million in a seed round led by X, FinalityCap, and Breyer Capital. Other participants in the round include Coinbase Ventures, HashKey Capital, Collider Ventures, BanklessVC, Robot Ventures, Everstake, and Punk DAO. The funds will be used to further develop Othentic's decentralized computing platform, which allows developers to build and deploy decentralized applications without the need for centralized infrastructure. Othentic's platform is based on the Ethereum blockchain and uses a network of distributed nodes to provide computing power. The seed round is a major milestone for Othentic, which was founded in 2023. The company has previously raised $1 million in a pre-seed round. **About Othentic** Othentic is a decentralized computing platform that allows developers to build and deploy decentralized applications without the need for centralized infrastructure. The company is based in San Francisco and was founded in 2023. **About the Investors** * X is a venture capital firm founded by Alphabet, the parent company of Google. * FinalityCap is a venture capital firm focused on blockchain and digital assets. * Breyer Capital is a venture capital firm founded by Jim Breyer, a former partner at Accel Partners. Previously on 22 April 2024 - "Decentralized computing service development project Othentic (Othentic) announced that it has attracted an investment worth 4 million US dollars in a seed round led by X, FinalityCap, Breyer Capital. Coinbase Ventures, HashKey Capital, Collider Ventures, BanklessVC, Robot Ventures, Everstake and Punk DAO participated in this investment. The specific use of investment funds is not known."