S. Korean Lambda265 Nabs $60M Series B at $300M Valuation

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S. Korean Lambda265 Nabs $60M Series B at $300M Valuation


Lambda265, the blockchain arm of South Korean crypto exchange operator Dunamu, closed a $60 million (KRW 71 billion) Series B, bringing its valuation to $300 million, according to a Wednesday press release.

The firm will use the funds to invest in its blockchain-as-a-service (BaaS) products, which are used by 3,300 corporate clients, according to the statement. Its flagship platform, Luniverse, helps companies build and manage blockchain systems.Shinhan Venture Capital, Daelim, KB Investments, and SBI Investments, which are new investors to the company, also use Lambda265′s BaaS products, the press release said.Its owner Dunamu, as well as Hanhwa Systems, Chong Kun Dang, Yanolja, VTI Partners, and DSC Investments also participated in the round.Dunamu operates Upbit, one of South Korea’s largest crypto exchanges.Lambda265 raised $15 million in a Series A in February, according to its website.

Read more: South Korea Delays Plans to Tax Crypto to 2023



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