Denpasar, Bali / Indonesia, December 9th, 2024, Chainwire
Mandala Chain, an L1 dedicated to connecting government, enterprise, and retail in emerging markets, announces the successful closure of its pre-seed funding round, raising $1 million.
The round was led by Harbour Industrial Capital, with additional participation from O-DE Capital, NLS Ventures, and strategic Polkadot ecosystem partners. This milestone marks a pivotal step in Mandala Chain's journey to onboard the next 100 million users into Web3 through its innovative blockchain infrastructure and its focus on addressing real-world challenges in emerging markets.
“We are deeply grateful for the confidence our investors have shown in our vision to make blockchain technology accessible and impactful for emerging markets,” said Mathew Paul, CEO of Mandala Chain Foundation. “This funding will drive our efforts to deliver scalable, real-world solutions that empower and bridge the gap between expanding and established blockchain markets”
Max Rebol, CEO of Harbour Industrial Capital, added: “As a Polkadot ecosystem fund, we love to invest into projects that understand how to leverage Polkadot’s next-generation technology stack to enable mass adoption of Web3. We are therefore thrilled to support Mandala Chain in building out services that solve real problems in one of the world's most dynamic regions.“
This funding will enable Mandala Chain to scale its operations, build strategic partnerships, and expand its presence in emerging markets. With a focus on deploying practical real-world use cases, Mandala Chain aims to drive meaningful adoption of blockchain technology, starting with key initiatives in Indonesia.
Mandala Chain is the Blockchain where Government & Enterprise applications integrate seamlessly with Public & Retail applications. It is a network built to bridge the gap between Emerging and Global Blockchain Markets. Their first use case is in Indonesia, where strategic resources and partnerships gives them advantages they can leverage to expand into broader markets.
Contact
CEO Mathew Paul Mandala Chain Foundation info@mandalachain.io
Disclaimer: Press release sponsored by our commercial partners.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
