Blockchain Project Radix Raises $10M

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DWF Labs has invested $8 million in Radix, with a pledge to provide additional $2 million in the near future, valuing the Web3 firm at $400 million.

Radix, which was founded in 2013 as a blockchain research project, had previously raised $12.7 million in 2021.

Piers Ridyard, CEO of Radix, has announced that their own consensus system, runtime environment, and programming language will be released on a mainnet called Babylon in the second quarter of 2023.

Further, over 50 projects are anticipated to build on Radix’s DeFi and NFT platforms using Scrypto programming language. This news follows the Mysten Labs startup raising $300 million to create the Sui blockchain.