Cryptocurrency startup Oneiro has secured a $3 million seed investment from Cosimo Ventures, a venture capital firm with offices in Boston and Dublin.
Based in the UK, Oneiro is focused on developing technologies around decentralized, secure, and dependable cryptocurrency. Blockchain technology has enabled the use and management of digital currencies worldwide, and Oneiro is positioning its technology to be an integral part of the market’s future.
Cosimo claims that the investment is one of the largest for a cryptocurrency company established in the UK. Oneiro will use the funds to develop its technology and to establish its operating headquarters in Boston. Oneiro will also have part of its core technology development team based in Dublin.
Ciaran Hynes, Managing Partner at Cosimo Ventures, said they expect Oneiro to bring the potential of the cryptocurrency market into a completely new realm of acceptance as digital currencies becomes more mainstream.
“We are impressed by the experience and forward thinking of the team at Oneiro,” said Hynes. “This is one of the most exciting projects we’ve seen, and we’re pleased to support them as part of Cosimo’s investment strategy to offer unique technology solutions for the commercial markets.”
Cosimo Ventures invests in sectors including blockchain, cryptocurrencies, virtual reality (VR), augmented reality (AR) and the Internet of Things (IoT). It also offers special expertise in working with promising Irish and UK early stage technology companies and supporting their global expansion.
“We’ve built a team of experienced professionals with a wealth of experience across many different segments and markets,” said Ken Lang, CTO of Cosimo Ventures. “Our innovations in the cryptocurrency space will leverage best practices and lessons learned from the markets.”
Last month, Cosimo Ventures invested $1 million in RegTech blockchain firm Gecko Governance. Gecko allows fund managers and banks to monitor and manage their regulation and compliance requirements.
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