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Synota - Seed
Overview
Funding Date
October 25, 2022
Financing amount
$3M
Valuation
--
Category
About Synota - Seed
Synota has raised $3 million in a seed round led by Ego Death Capital, a newer venture capital firm focused on the Bitcoin ecosystem. The new capital will be used toward the commercialization of Synota's software, including plans for a bitcoin mining-related service. Other investors in the round included Trammell Venture Partners, Rev1 Ventures, Hivemind VC, Bitcoiner Ventures and Recursive Capital, among others.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2022 | 5 | -- | ||
| Fund | United States of America | 2016 | 7 | -- | ||
| Fund | United States of America | 2005 | 1 | [email protected] | ||
| Fund | -- | -- | 11 | -- | ||
| Fund | -- | -- | 4 | -- | ||
| Fund | United States of America | 2020 | 1 | [email protected] |
Founders & Team
Austin Mitchell
Company Profile / Project Introduction
Synota integrates existing hardware and software products currently used by the energy industry with Bitcoin's Lightning Network. The overall idea would be for an energy company to end up with a smart network of production and consumption nodes. The network could see that higher energy production heading in one direction would require more payments to flow the other way, minimizing payment lags and cutting back-office costs.