Ethereum software developer ConsenSys announced on Tuesday it has raised US$450 million in Series D funding, bringing its valuation to US$7 billion.
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- The latest funding round was led by ParaFi Capital, with investors including Temasek, SoftBank Vision Fund 2 and Microsoft.
- The fresh funds will support the expansion of cryptocurrency soft wallet MetaMask, which is scheduled for a “major redesign” in 2022.
- All the proceeds will be converted to ETH, as part of ConsenSys’ treasury strategy in anticipation of Ethereum’s upcoming proof-of-stake merge.
- ConsenSys founder and CEO Joseph Lubin said: “Next round will be our ‘Series ETH’ where we will assist investors in getting fully crypto native and contributing ETH as a symbol of and commitment to the ongoing paradigm shift.”
- ConsenSys completed its US$200 million series C round in November.
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