Sequoia backs e-signature firm’s $12m seed round

Singapore-headquartered EthSign, a Web3 application builder, has raised US$12 million in a seed round led by Sequoia Capital India and Mirana Ventures, with participation from Sequoia Capital and Sequoia Capital China.

EthSignProject Lead & Cofounder Xin Yan, EthSign project lead & cofounder EthSign / Photo credit: EthSign

EthSign built a decentralized e-signature service called EthSign Signatures for securing contract agreements. It will also launch EthSign Smart Agreements, a customizable escrow framework for contract execution.

The company was founded by Xin Yan, Potter Li, and Jack Xu in 2020.

Li explained that the firm was creating code-based contracts on top of PDF contract terms, with the end goal being completely self-executable agreements.

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Other investors in this round include:

• Amber Group
• Hack VC
• Circle Ventures, NGC Ventures
• Hashkey
• Infinity Ventures Crypto
• IOSG Ventures
• Tess Ventures
• Folius Ventures
• Shima Capital
• Genesis Block Ventures
• Hash Global
• KB Ventures
• Mask Network
• Matrixport
• Synaps
• AV Blockchain Fund
• Goodwater Capital
• Emoote
• Next Web Capital

Update (March 9, 11:15 a.m. SGT): This article was updated with information on headquarters and founders.