On March 9, capsule, a decentralized social media platform, announced the completion of a $1.5 million financing of beacon fund, a $14.5 million joint venture of polychain, Andreessen Horowitz (a16z) and dfinity foundation, which will be used to build teams, launch and run product prototypes and launch mobile applications.
It is understood that capsule was founded in 2021 by cryptography researchers and author Nadim kobeissi, an open-source end-to-end encrypted desktop chat application cryptocat. The project aims to provide more protection agents for people who share ideas and write content on the Internet.Prior to this round of financing, capital obtained $100000 seed investment from angel investors such as Balaji Srinivasan, William J. Pulte and wamda capital, former chief technology officer of coinbase.
In response, Tekin salimi, partner of polychain and head of investment at Beacon fund, said: "in the post covid era, we will organize a lot of technical meetings on crypto and the broader technology industry, which is a good way to meet founders and start-ups.Having to adapt to travel restrictions, we now spend a lot of time on community channels like discord and telegram.We found capsule through a tweet and invested in it.」
Nadim kobeissi, founder of capsule, said: "I'm very happy to get a quick response from supporters for what we're trying to achieve.Capsule understands the concerns and aspirations of many creators and freedom of speech advocates.What we're focusing on is creating decentralized discourse in a world where we think we need it very much.」