Blockchain Company Auradine Raises $81 Million Led By Celesta Capital And Mayfield

Key Points:

• Auradine, a blockchain-focused on privacy, has acquired $81 million in Series A investment backed by venture capital companies Celesta Capital and Mayfield.
• According to the company, it is working on groundbreaking scalability, sustainability, and security solutions.
• The sum raised is significant amid a protracted weak market that has slowed investment.

Auradine, a tech startup co-founded by a serial entrepreneur with a track record of developing billion-dollar companies, secured $81 million in its inaugural fundraising round to create next-generation online infrastructure.

Celesta Capital and Mayfield co-led the Series A financing, with Sriram Viswanathan, Celesta’s founding managing partner, and Navin Chaddha, Mayfield’s managing director, joining the Auradine board. Auradine reported Tuesday that other investors included Marathon Digital Holdings, Cota Capital, DCVC, and Stanford University.

The sum raised is significant amid a lengthy bear market, which has slowed investment in even crypto-adjacent enterprises.

Auradine, which was founded in 2022, is working on a wide spectrum of infrastructure, including energy-efficient silicon, zero-knowledge proofs, and artificial intelligence solutions for decentralized apps.

Auradine has also formed a board of strategic advisors and investors, which comprises top industry executives like Palo Alto Networks and Cavium co-founders. Moreover, the company has formed a technological advisory board comprised of experts from UC Berkeley, the University of Michigan, and the University of Illinois at Urbana-Champaign, who are at the forefront of security and privacy research.

Auradine Co-Founder and CEO Rajiv Khemani stated:

“With this funding, we will accelerate our development and go-to-market efforts to deliver breakthrough solutions.”

Auradine is Khemani’s fourth infrastructure-focused tech business. According to Khemani, his first company, NetBoost, was bought by Intel for $$225 million in 1999. Cavium, where he served as chief operations officer, was bought by Nasdaq-listed Marvell for $6 billion in 2018. Innovium, his third company, was likewise bought by Marvell in 2021 for more than 1.2 billion dollars.

Auradine plans to launch its first product this summer and will target customers in the financial and healthcare sectors, among others.

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Harold

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