Oneiro, a provider of high-performance blockchain solutions, announced today it has secured an investment of $5 million from COSIMO Ventures. This is the second investment round by COSIMO to Oneiro, following a seed round of $3 million in February 2018, bringing the total venture capital investment to date to $8 million.
In 2016, COSIMO Ventures and Oneiro collaborated to launch ndau, a buoyant digital currency, and a decentralized ecosystem. ndau represents a new category of digital virtual currencies that works in parallel with stablecoins and traditional stores of value, such as fiat currency, commodities, or treasuries. ndau addresses the pain points associated with other stablecoins, including inflation risk, and mitigates volatility associated with the crypto market.
ndau operates on a live mainnet built on its own high-performance blockchain using COSMOS/Tendermint for consensus. It is designed with a unique monetary policy essential to encourage long-term holding and discourage active, speculative trading.
The new funding will allow Oneiro to provide additional services to the Axiom Foundation and other clients more efficiently. Helping Axiom extend ndau into the digital asset economy and performing exchange integrations will be the focus by Oneiro following the investment.
Oneiro has entered into a service contract with the Axiom Foundation. Axiom, an Isle of Man entity, oversees ndau, under the guidance of a Blockchain Policy Council, elected by holders of ndau. Pursuant to this service agreement, Oneiro is responsible for the development of technology infrastructures for, among other things, an identity verification system and a system for autonomous transaction processing.
“Another investment into Oneiro, is another investment for the advancement of the entire blockchain ecosystem. Oneiro has proven its development expertise in the blockchain space particularly following the launch of ndau. The Oneiro team has made significant progress this year, and these new funds will allow the team to further develop multiple blockchain technologies, extend into the crypto ecosystem, and accelerate the adoption and use of various blockchain applications, including digital virtual currencies such as ndau.”
– Ciarán Hynes, Managing Partner at Cosimo Ventures
New Appointment
Oneiro is also announcing the appointment of Dhesi Ananchaperumal to the team, who will be joining as CEO, in order to help lead the next phase of growth for Oneiro.
Dhesi Ananchaperumal has vast experience with blockchain startups, as well as with already established products and businesses. Prior to joining Oneiro, Ananchaperumal co-founded and served as CEO of Verité, an identity and access management provider using blockchain technology.
In his past roles at Tangoe, Dell EMC and CA Technologies, Ananchaperumal led multi-billion dollar product lines, integrated software technology acquired by startups, and built new data center management products that have grown to be worth hundreds of millions of dollars.
“I am absolutely thrilled to be joining the Oneiro team, in order to accelerate the growth of services offered by Oniero, especially during this exciting investment period. My past experience and expertise will allow me to drive new innovation and partnerships, and identity adjacent areas of opportunity that leverage established core competency of blockchain development.”
– Dhesi Ananchaperumal, CEO of Oneiro