Fedi, Inc., a U.S. based developer of community-empowering financial and data technology, announced today that it has raised $17 million in a Series A round of financing, and is set to pre-launch an Alpha version of Fedi for builders later this month.
CEO Obi Nwosu said: “We are excited that with so much interest in this round, we were able to select investors who are fully aligned on the future we are trying to create with Fedi, the world’s first federated operating system.”
Fedi aims to be the world’s first federated operating system. It will empower individuals to collaborate through “federations”—made up of friends, families, neighbours, nonprofit organisations, social clubs, businesses, conferences and other forms of community—to take control of their money, their data, and their digital lives while still protecting user privacy and autonomy. It provides a resilient, privacy-protecting, and simple way for people who don’t have access to or don’t trust centralised alternatives to secure and use their data and money.
Because Fedi is built on the open-source Fedimint protocol, it makes it easy for developers to build additional apps and modules to complement Fedi’s offerings and give more options to users.
“The Bitcoin community already knows the tremendous potential of the protocol,” Nwosu said. “But what’s most exciting about Fedi is that you don’t have to be an existing Bitcoiner, or even particularly tech-savvy, to quickly start using this to solve real problems within your community.”
The financing round was led by Ego Death Capital, with participation from TBD, part of Block, Kingsway, Trammell Venture Partners, and Timechain. The Series A brings the total amount raised by Fedi to $21.21 million. Earlier seed round investors included Ten 31, Hivemind, Steve Lee, and Recursive Capital. Fedi is led by CEO Nwosu, who co-founded the company with Eric Sirion and Justin Moon….[READ MORE]
Fedi aims to be the first federated operating system, and is also the name of the company building it. Fedi empowers people to collaborate within their communities to take control of their money, their data, and their digital lives while protecting user privacy and autonomy.