Ripple sources $3.5m seed round

Nov 27, 2013 • Joanne Faulkner

Ripple Labs, developer of the Ripple protocol, has raised $3.5m in seed funding from IDG Capital, Core Innovation Capital, Venture 51 and Camp One Ventures.

IDG Capital Partners, a China-based venture capital firm supported by technology media company International Data Group, has participated in a $3.5m seed round of funding into US-based Ripple Labs. Also involved in the funding were venture capital firms Core Innovation Capital, Venture 51 and Camp One Ventures.

The new funds will be used to develop consumer tools that enhance and contribute to the Ripple ecosystem.

Ripple Labs, formally known as OpenCoin developed the Ripple protocol, an open source payments system…

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