Spark Capital, Aleph Lead $2.5 Million Investment in Colored Coins Startup Colu
Crypto 2.0 startup Colu has raised $2.5m as part of a seed funding round with which it seeks to advance the development of the colored coins concept. Led by VC firms Aleph and Spark Capital, contributing investors also included VC Barry Silbert's Bitcoin Opportunity Corp and boutique angel fund Box Group. Notably, Spark Capital's past investments include now-famous tech startups such as Foursquare, Tumblr and Twitter, as well as fashion startup Warby Parker. Speaking to CoinDesk, Colu framed its project as one that would strive to find everyday use cases for the more advanced applications....
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Tel Aviv-based blockchain startup Colu has raised $9.6m, a fundraising that comes amid a shift in its business model that finds it focusing on local currency issuance. The Series A round, backed by Aleph, Spark Capital, Digital Currency Group and former Thomson Reuters CEO Tom Glocer, follows a $2.5m seed round in early 2015 that came at a time when the startup was focused on building out its underlying technology. While Colu was formerly focused on developing colored coins technology, a top-level protocol on the bitcoin network that allows bitcoins to be augmented to represent other....
The colored coins space is certainly heating up with leading start-up Colu raising $2.5 million from large investors such as Aleph, Spark Capital and BoxGroup. The growth in the space has not been lacking in innovation. Start-ups such as Shocard, which aim to replace cumbersome bank processes to GetGems – a blockchain based social media platform are proof that new, out-of-the-box uses for the blockchain are yet being discovered by the day. In a recent paper titled, “Watermarked tokens and pseudonymity on public blockchains”, Tim Swanson of R3 CEV highlighted the main pain points of using....
Fresh off $2.5m in funding, colored coins startup Colu has announced eToro CEO Yoni Assia has joined its board of directors. The founder and CEO of what's billed as "the world's largest social investment network", Assia has long been an active member of the bitcoin community. For example, eToro first enabled bitcoin trading for the estimated 2.75m users of its platform in January 2014. Perhaps most notably, however, Assia is credited as one of the originators of the concept of colored coins - that metadata in the bitcoin protocol could be used to augment bitcoins so that they could....
Colu has recently announced its successful integration into Copay, a popular multisig wallet from Bitpay. The plugin used for Copay will allow the use of colored coins, giving users the ability to issue digital assets for virtually anything. I spoke to Mark Smargon, VP Product & Founder of Colu regarding the new plugin, and what it means for Colu, Coloredcoins, and Copay. Concurrently, ColoredCoins.org is extending an open invite to all developers who wish to be ambassadors, allowing them to be seen as an official face for colored coins in their community.
With Bitcoin's Lightning Network nearing launch, the number of tests seeking to upgrade the micropayments network is on the rise. Now, industry startup Colu has unveiled a demo of how Lightning could be made compatible with colored coins (a technology that enables small amounts of bitcoin to represent other assets, such as the US dollar, stocks, or even houses or cars). Mashing this concept together with Lightning could mean more of these transfers at a higher speed. Users can now send test transactions over the so-called "off-chain" network using Colu's demo, which perhaps....