Token management platform Magna completes $15 million seed round financing, led by Tiger Global and others
ChainCatcher news, the token management platform Magna has completed a $15 million seed round financing at a valuation of $70 million, led by Tiger Global and Tusk Venture Partners, with participation from institutional investors such as Shima Capital, Circle Ventures, Solana Ventures, Polygon Ventures, Avalanche Labs, and Galaxy Labs, as well as individual investors including Coinbase executive Balaji Srinivasan, Messari's Ryan Selkis, and DJ Steve Aoki.
It is reported that Magna is building token distribution software to make it easier for protocols, DAOs, and crypto funds to send and receive tokens, as the current process lacks automation and is prone to errors. (Coindesk)
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