Radix DLT secures £3.2m seed investment from LocalGlobe and Taavet Hinrikus to develop its decentralised finance protocol.
The round was led by LocalGlobe and will support the development of the company protocol ahead of its public release.
Radix builds a decentralised finance protocol designed to provide frictionless access, liquidity and asset programmability. The platform uses custom technology to scale applications and handle high transaction volumes.
Radix has secured £3.2m in a seed funding round led by LocalGlobe, with participation from investor Taavet Hinrikus. The capital will be used to expand the global team and prepare for the upcoming public release of its decentralised finance protocol and token listing later in the year.
The investment arrives as decentralized finance gains significant traction, driven by technological innovations including the Cerberus consensus algorithm and the Radix Engine. Radix aims to address scalability and security challenges in legacy systems, providing a foundation for future financial services and global asset interoperability.
From the founder
"We are confident that with the support of LocalGlobe, Taavet and our community, Radix will be able to provide the essential infrastructure required for DeFi to scale from being an emerging niche for crypto enthusiasts to the new global standard for frictionless finance for people everywhere."
Piers Ridyard
CEO at Radix DLT
Investor perspective
"I see the same revolutionary potential in the Radix team as I did with the Skype and Netscape teams at the birth of the internet. We’re excited to join them at the start of a new decentralised network revolution."
Saul Klein
co-founder, LocalGlobe
Use of funds
- 01Grow the team
- 02Continue product development