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Sommelier Raises $23M Series A Round To Build Decentralized Blockchain For Automated Portfolio Management

Sommelier Raises $23M Series A Round To Build Decentralized Blockchain For Automated Portfolio Management

10/20/21, 11:00 AM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgsan francisco
Money raised
$23 million
Round Type
series a
Sommelier, the first-of-its-kind decentralized and automated DeFi portfolio manager software, today announced it has raised $23 million in Series A funding. The round was led by Polychain Capital with participation from existing investor Alameda Ventures and with new participation from Zola Ventures, Byzantine Ventures, Tendermint Ventures, Secure Ventures, D1 Ventures, and Ferngrove Ventures.

Company Info

Company
Sommelier
Location
san francisco, california, united states
Additional Info
Sommelier is the most powerful coprocessor yet for DeFi traders and Liquidity Providers (LPs). It consists of the Cosmos Stargate SDK, its Tendermint-based consensus layer and a decentralized, bi-directional Ethereum bridge, managed by a global network of validator computers. Liquidity Providers will be able to use the Sommelier to author and execute complex, and automated financial transactions, such as portfolio rebalancing, limit orders, as well as a host of other features that token holders have come to expect from CeFi, but that are not currently available in DeFi. Sommelier was founded in 2020 by Zaki Manian, a lead developer on the Cosmos protocol and Tendermint, and a prolific team of Ethereum and Cosmos developers. Sommelier is currently in mainnet and actively seeks new contributors and community members. To learn more about Sommelier, please visit https://sommelier.finance/ To use Sommelier, try the Pairings App at https://app.sommelier.finance/ To participate in the community, please join the Telegram group https://t.me/getsomm To follow the project on Github, please star the project https://github.com/PeggyJV/sommelier SOURCE Sommelier