Saito closes strategic funding round.

The Saito team is pleased to announce closure of a presale round led by Spark Digital Capital, DFG and Block Dream Fund by OKex. The round has received amazing support and was heavily oversubscribed. It includes a diverse group of funds and industry players.

Saito has successfully raised over 2 million USD in strategic funding from leading global funds, partners and communities.

Saito’s supporters now include Candaq, In Blockchain, NGC, Signum, Delean, PAKA, Kernel Ventures, Tripara Ventures, Infinity Labs, Waterdrip, Angel One, OnePiece Capital, Hot Labs, Lotus Capital, PhoenixVC, A195 — Four Seasons, Master Ventures, Momtemum 6, and BlockSync.

Saito is a web3 network that runs blockchain applications without closed plugins and non-open infrastructure. The network is powered by a consensus mechanism that pays the nodes that provide user-facing infrastructure for its own network as well as other blockchains. Saito is secure, sybil-resistant, and fixes the underlying economic problems that encourage monopolies to form in the network layer of other large chains — keeping web3 open and independent at scale.

At Saito’s heart is a simple yet elegant mechanism that eliminates the fundamental incentive misalignments in proof-of-work and proof-of-stake network designs. This approach makes Saito unlike any blockchain, as does the project’s focus on having working code, a live network and an aggressive scaling roadmap.

This round puts together a pretty amazing team that can establish Saito as the go to platform for scale in the blockchain space. We are humbled by the support and are working hard to deliver.

Richard Parris — Co-Founder

Closing this round positions Saito to continue its growth towards being the only open and non-discriminatory network provider in the blockchain space, and brings key new industry partners to the growing Saito ecosystem.

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Saito is the open network layer that lets users run blockchain apps in-browser w/o closed plugins, private APIs and non-open infrastructure Saito.io