Share this article
Mirror Raises $8.8 Million for Bitcoin Smart Contracts Trading
Mirror has raised $8.8m in Series A financing to reposition itself as a smart contract trading platform built on bitcoin's blockchain.
By Pete Rizzo
Updated Apr 10, 2024, 2:39 a.m. Published Jun 3, 2015, 12:00 p.m.
Make us preferred on Google
Mirror has secured $8.8m in Series A financing to reposition itself as a smart contract trading platform built on bitcoin's blockchain.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Led by Ripple Labs investor Route 66 Ventures, the round also included Battery Ventures, Crosslink Capital, RRE Ventures and Tim Draper. As part of the deal, Route 66 venture partner Pascal Bouvier will join Mirror's board of directors.
Reports of Mirror's round first surfaced in a New York Times article that suggested the company had raised $12.5m to fund a pivot toward smart contract technology with the help of renowned cryptography expert Nick Szabo.
In a statement, CEO Avish Bhama spoke of the wider impact he hopes his company's new direction will have.
"There is an unbundling of the financial services industry that’s occurring right now, and we see an enormous opportunity to provide advanced, more efficient services for risk management and hedging."
With total investment standing at $12.8m, Mirror indicated it will use the funding to build out its engineering team while scaling its international operations.
The company raised $4m in seed funding last May from Battery Ventures, Tim Draper and AOL CEO Steve Case under its previous name, Vaurum, before rebranding later that year.
At the time, the company suggested it would seek to improve liquidity in international markets and democratize access to the financial system.
Investment image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Binance to shift $1 billion user protection fund into bitcoin amid market rout
Binance will convert the stablecoin holdings in its $1 billion Secure Asset Fund for Users to bitcoin over the next 30 days, with plans for regular audits.
What to know:
- Binance will convert the stablecoin holdings in its $1 billion Secure Asset Fund for Users to bitcoin over the next 30 days, with plans for regular audits.
- The exchange has pledged to replenish the fund to $1 billion if bitcoin price swings cause its value to fall below $800 million.
- Binance framed the change as part of its long-term industry-building efforts.
Top Stories
