ConsenSys seeking $200 million from investors

15 Apr, 2019
by David Robb
News
ConsenSys seeking $200 million from investors

Ethereum co-founder Joe Lubin's project development studio ConsenSys is apparently looking to get more funding. The firm is seeking around $200 million, based on a $1 billion valuation.

ConsenSys appears to be on the way towards recovery, after reports of struggles towards the end of last year. Many of the firm's staff were made redundant in a major restructuring of the project, and there was talk of even more layoffs earlier this year.

Read more: According to ConsenSys: Layoffs did not exceed 13%, affected all staffConsenSys: " The decentralized finance ecosystem is flourishing"

ConsenSys is reaching out to Chinese investors for the funds to continue operating, as reported by CoinDesk. It has promised revenue of around $50 million for this year, despite apparently only making $21 million in 2018. Brazil's National Social Development Bank has also been in talks with ConsenSys about investment opportunities.

Read more: 5 reasons it's not too late to get into crypto

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