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Acinq, one of the leading companies working on Lightning networks to increase the number of bitcoin scalability, has today announced that it has secured $1.5 million in seed funding from Serena Capitals and others that includes Bertrand Diard (Talend), Sebastien Lucas, Alistair Milne, and Yves Weisselberge of Snapcar.
In an official statement issued by Acinq, the company has said: “We will use the new funding to grow its engineering team, develop new Lightning-based services and more generally do everything it can to help build and grow the Lightning Network.”
With the launch of a French startup earlier in 2015, Acinq has played a vital role in developing the platform by using the Lightning Network. Earlier this year, Acinq launched the first mobile Lightning wallet called ‘Eclair Wallet’ and ‘Strike’, a web API that allows business to easily receive funds over Lightning with minimal integration costs.
Acinq uses lightning networks that are used to usher VISA-scale scalability to Bitcoin. The technology provides an unlimited throughput, instant payments at a very low fee by keeping the trustlessness and censorship-resistance properties that makes Bitcoin innovative and valuable in the first place.