Samreen Ahmad · · 1 min readBinance Labs leads $8m round of blockchain software firm
Tea, a Puerto Rico-based company building an open-source software platform on the blockchain, has raised US$8 million in a seed funding round led by Binance Labs, the VC and innovation incubator from Binance.
Max Howell, Tea’s co-founder and CEO / Photo credit: Tea
The fresh capital will be used to hire additional resources to continue work on the protocol, software, and development of the community.
Tea co-founder and CEO Max Howell created Homebrew – also known as brew – an open-source software package management system used by developers worldwide that has helped large tech corporations build their products, Tea said.
See also: The tech mogul backing Binance’s Malaysia breakthrough
The startup is aiming to create an open-source software ecosystem where volunteer developers are compensated and involved in open governance.
Other investors in the round include:
- XBTO
- Lattice Capital
- Darma Capital
- Coral Capital
- Woodstock
- Rocktree
- SVK
- MAKE services
Editing by Collin Furtado and Arpit Nayak
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