Decentralized blockchain network Iron Fish, which set out to create a crypto-asset as private as fiat coins, raised $27.7 million in a Series A round led by Andreessen Horowitz (A16z) ahead of its testnet launch on Dec.
Among other investors in the round Sequoia, Electric Capital, MetaStable, Arrington XRP, Terra co-founder Do Kwon, Thesis CEO Matt Luongo and Anchorage Co-Founder Nathan McCauley took place.
San Francisco-based Iron Fish launched its first testnet in April, and announced that they’ve included around 2,000 miners in the past 8 months. Testnets are alternative blockchains used for testing and experimentation, while mainnets are used for actual transfer transactions.
Founded by Elena Nadolinski in 2018, the company offers incentives through the testnet to increase the number of users until the mainnet starts working.