Colored Coins Startup Colu Gets $2.5 Million Investment

Colu, a startup developing Colored Coins technology, has gotten a $2.5 million investment.

The round was led by Israel-based Aleph and US-based Spark Capital. Other contributing investors included Barry Silbert’s Bitcoin Opportunity Corp. and Box Group.

Colored Coins is an open source project that seeks to create new solutions based off of Bitcoin’s blockchain functionality. Bitcoin transactions can be “colored” to represent, for example, the transfer of smart property. A large array of applications are envisioned, including multisig functionality, micropayments and peer-to-peer exchange.

Colu is building API technology allowing developers to access Colored Coins functionality and to build distributed applications more easily. Developers can add blockchain-based approvals to transactions involving more than just digital currencies.

The funding will go toward to marketing the technology for real-world applications and growing the Colu team.

The round marks the latest investment in blockchain-based API technology.

(Photo: facebook)

bitcoin
Bitcoin (BTC) $ 59,279.00 5.13%
ethereum
Ethereum (ETH) $ 4,032.59 3.55%
binance-coin
Binance Coin (BNB) $ 457.88 5.62%
tether
Tether (USDT) $ 1.00 0.51%
cardano
Cardano (ADA) $ 1.99 8.19%
solana
Solana (SOL) $ 192.31 7.01%
xrp
XRP (XRP) $ 1.03 7.53%
polkadot
Polkadot (DOT) $ 41.79 4.84%
dogecoin
Dogecoin (DOGE) $ 0.250242 6.32%
shiba-inu
Shiba Inu (SHIB) $ 0.000067 41.93%
S&P 500  ^GSPC 
$4,572.04  $2.75  (-0.06%)
Dow Jones Industrial Average  ^DJI 
$35,632.01  $124.87  (-0.35%)
NASDAQ Composite  ^IXIC 
$15,305.04  $69.32  (0.45%)
Russell 2000  ^RUT 
$2,275.29  $20.79  (-0.91%)
Crude Oil Dec 21  F*CL.NYM 
$83.29  $1.36  (-1.61%)
   
$0.0000  $0.0000  (0.00%)