Blockchain Startup CasperLabs Has Raised $14M In a Private Token Sale

The decentralized blockchain and smart contract platform CasperLabs has announced on Wednesday, October 21, 2020, that it has secured an amount of $14 million from investors in a token sale. CasperLabs is the rival of Ethereum and a creator of the Casper Network.

Digital Strategies led this private token sale

Per the official announcement of CasperLabs, the cryptocurrency fund Digital Strategies has led this private token sale. There were dozens of other investors who participated in this investment token sale other than Digital Strategies. These include Cluster Capital, Global, Consensus Capital,, Hashkey Capital, RockTree Capital, Blockchange Ventures, and plenty others. Through the collaboration of these investors, CasperLabs was able to raise an amount of $14 million.

Mrinal Manohar, the Chief Executive Officer (CEO) and Co-Founder of CasperLabs said, “we are grateful for and humbled by the tremendous support we have received from so many leaders in the blockchain industry.”

CasperLabs is planning on using these raised funds for setting up support measures as well as grants for accelerating its developer adoption further before the next public token sale and the official launch of its mainnet that is expected to occur by the next year. Another basic purpose of the firm is to utilize this funding for resolving the issue of “scalability trilemma” that aims at achieving decentralization and full scalability.  Apart from this, it aims to create a platform for developers where they could build decentralized apps and operate them.

This investment has come one year after it completed a Series A funding round last year in September 2019 and raised an amount of $14.5 million through it. This funding was used by CasperLabs for expanding its team.

Manohar has revealed that they do not intend to start any other private token sale until the next public token offering takes place. The public token sale will occur in the first quarter of 2021. He said that there is no need for a private token sale yet.