Startup Totle To Power Economy Of Decentralized Exchanges
Totle, a startup that specializes in decentralized applications, completed a private round of funding, during which it raised $1 million investments from industry leaders.
The Totle team is going to use these proceeds to implement their global B2B growth strategies by developing new business functions. In particular, the specialists will improve the internal wallet and add widgets for swaps.
American startup Totle is developing an infrastructure to support blockchain applications and the ecosystem of decentralized exchanges. Recently, the project has launched its API, which extends the functionality of crypto platforms like EtherDelta and RadarRelay. With the help of Totle, platforms can rebalance their assets and conduct arbitration.
According to the blog, the main Totle’s investor was a crypto fund Arrington XRP, which belongs to the founder of an online magazine TechCrunch, Michael Arrington. The institutional players NEO Global Capital and Goren Holm Ventures also participated in the financing round.
Hedge fund Arrington XRP was founded in 2017 to invest in cryptocurrency assets and related technologies. The fund uses XRP tokens from Ripple, the second most capitalized cryptocurrency after bitcoin, as its main currency.
Michael Arrington’s company previously invested in Hong Kong-based startup AERGO that develops a public blockchain. It is noteworthy that last autumn Arrington refused to invest in projects from the United States and switched to the Asian market.
Earlier, a crypto businessman Tim Draper invested in the OpenNode bitcoin processor.