Crypto trading platform Radar Relay raises $10M in Series A
Fort Collins, Colorado-headquartered wallet-to-wallet decentralized cryptocurrency trading platform Radar Relay has raised $10 million at the completion of its Series A funding round, according a press release CoinReport received from Wachsman, Radar’s PR firm.
The funding round was led by Blockchain Capital with contributions from top investment companies that include Collaborative Fund, Tusk Ventures, Reciprocal Ventures and Distributed Global, among others.
The investments will assist in the worldwide growth of the company platform, strategic hiring and new product research.
“The support from these leading venture capital and investment firms — many of whom also participated in our seed funding round last year — validates our progress towards onboarding the world to the token economy,” said Radar Relay CEO Alan Curtis in the press release we received. “Executing on our mission may take time, but with their support and industry knowledge, we can build an enduring, multigenerational company.”
San Francisco-based Blockchain Capital was established in 2013. It is one of most recognized and active venture investors in the blockchain space. Back in March, the investment firm raised $150 million for its fourth fund, bringing its total value of assets under management to $250 million. Since its inception, Blockchain Capital has assisted in financing top blockchain firms, tokens and protocols such as Kraken, Coinbase, Circle and ShapeShift.
“The Radar Relay team has consistently demonstrated a superior ability to execute, ship, and deliver product that exceeds expectations and pushes the industry to higher standards,” Blockchain Capital partner Spencer Bogart commented on the occasion.
“While Radar’s delivery to date has been exceptional, the most compelling aspect is Radar’s upcoming product roadmap and the opportunity ahead. Ultimately, this is a proven team executing against a high-conviction opportunity and I am thrilled to lead the Series A and join the Board.”
New York-based venture capital and political strategy company Tusk Ventures has been assisting emerging technology firms in navigating intricate regulatory landscapes. The company’s founder and CEO, Bradley Tusk, served as campaign manager for former New York City Mayor Michael Bloomberg during his successful third-term campaign in 2009. Since then, Tusk and his venture capital company have offered operational, investment and political leadership to over a dozen successful startups including Bird, Circle, Uber and FanDuel.
“Decentralized exchanges represent the next wave of innovation in cryptocurrency trading,” said Tusk Ventures managing partner and head of investments Jordan Nof. “We were highly impressed by Radar Relay’s focus on building an intuitive product for mainstream adoption and their commitment to proactively working with regulators to ensure a proper framework is established. We are excited to partner with Radar Relay and support the team’s regulatory strategy as they continue to grow their business and become the industry standard peer-to-peer trading platform.”
Other companies in the funding round include Chapter One, Elefund, SV Angel, Slow Ventures, Breyer Capital, Kindred Ventures, V1.VC, Digital Currency Group, Village Global and Kokopelli.
Radar Relay says that since launching in October last year, it has onboarded 170 tokens, traded over $150 million in volume, welcomed thousands of users from 150 countries to its platform and grown its team to almost 30 employees.
Image credit – Citycommunications at English Wikipedia (CC BY 3.0)