New blockchain startup Bison Trails has received an investment of $5.25 million in a seed round backed by Mike Novogratz’s crypto merchant bank Galaxy Digital. The firm announced the fundraising in a Medium post on March 15.
Led by two early stage venture capital firms Initialized Capital and Accomplice, the series seed round was also backed by both Galaxy Digital and blockchain-focused asset management firm Distributed Global. Other investors included Notation Capital, Homebrew and Charge Ventures.
Bison Trails’ blockchain infrastructure is designed to offer a way to launch secure, available and geographically distributed nodes on a participatory blockchain network, the press release notes. The Bison Trails platform enables a number of blockchain tools including staking, validating, voting, transacting and securing blockchain protocols.
Accomplice has confirmed the news of their leading the co-lead investment in New York-based Bison Trails. Founded by Joe Lallouz and Aaron Henshaw, Bison Trails is designed to optimize block production and validation, and is actively securing a number of protocols including Livepeer, Tezos, and Decred, Accomplice wrote on its Medium.
Previously, Mike Novogratz’s Galaxy Digital invested in blockchain security company CipherTrace, which reportedly raised $15 million in venture capital. CipherTrace aims to improve tools for crypto intelligence, anti-money laundering solutions, blockchain analytics and forensics and compliance.