Looks like the last one year has been great for Bitcoin startups as they have been able to manage huge sums in fund raising efforts. The latest name in the list of the startups that have been able to raise funds for their operations is Silicon Valley startup 21 Inc. The company has raised $116 million in venture funding.
At the occasion the company source claimed that the funds will be used for broadening the scope of Bitcoin technology. 21 Inc, a Bitcoin mining pool, is working on specially designed chips that will drive new equipment specifically aimed at doing this more efficiently. The company has yet to publicly reveal the exact nature of its operations though.
Some renowned investors flocked in at the fund raising effort. Some major names include venture capital firms such as Andreessen Horowitz and RRE Ventures. The chipmaker Qualcomm Inc owns a strategic stake through its venture-capital unit. Interestingly, 21 Inc has not disclosed an independent valuation.
Some other investors include Peter Thiel, Data Collective, Khosla Ventures, Yuan Capital, RRE Ventures, etc. amongst others. Khosla Ventures is known for investing in startups and helping them out emerge as leading companies. The owner of the investment firm has carved a …

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