# Arcana Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/arcana-technologies

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.arcana.network
- Total disclosed funding: $2.7M
- Latest round: Seed (Oct 6, 2021)
- Investors on record: 11

## About

Arcana Technologies Limited is a blockchain technology company focused on providing a seamless multi-chain user experience through its innovative Chain Abstraction technology, facilitating transactions across various blockchain networks.Founded in 2019 in Bangalore, India, Arcana Technologies Limited specializes in blockchain solutions that enable multi-chain interactions. The company was established by Abhishek Chaudhary, Aravindh Kumar, Joshua Jenks, and Mayur Relekar. Arcana has secured a total of USD 2.3 mn in funding from notable investors such as Republic Crypto and Woodstock Fund in its Seed round on October 6, 2021. The firm has completed three funding deals to date.Arcana Network specializes in providing a seamless multi-chain experience through its innovative Chain Abstraction technology. This core offering allows users to maintain a unified balance across multiple blockchain networks without the need for cumbersome processes such as swapping, bridging, or paying gas fees in native tokens. The system enhances user experience by enabling applications to operate on their preferred blockchain while simultaneously attracting assets and users from various ecosystems. The products include the Arcana Wallet, which facilitates instant transactions and allows users to spend token balances across chains with a single click, as well as additional services such as authentication solutions that generate non-custodial wallets. Arcana serves a diverse client base that includes developers and users engaged in the Web3 landscape, with products accessible globally across various markets.In 2023, Arcana Network reported a revenue of USD 426,351.40 with an EBITDA of USD -17,950.80. The company generates revenue through partnerships and integrations, offering its Chain Abstraction technology as a service. This typically involves subscription models and direct-to-consumer interactions, where clients pay for integration and ongoing use of the platform's features, with flagship products like the Arcana Wallet playing a crucial role in their revenue stream.Following its recent Seed funding of USD 2.3 mn raised in October 2021, Arcana Technologies Limited plans to utilize these resources to expand its team, strengthen its product portfolio, and launch Arcana's XAR token. The company aims to invest in community building while also planning to explore new market opportunities in various regions by 2024. Upcoming product launches are expected to enhance its offerings, though specific release date details have not been disclosed.

## Funding rounds

- Seed, Oct 6, 2021, $2.3M — Digital Currency Group Inc., Fenbushi Capital, LD Capital, Woodstock, Paradigm Shift Capital, Republic Crypto, shl.vc, HyperEdge
- Seed, Jul 13, 2021, $0.4M — Kenetic Capital, AU21 Capital, Arcanum Capital

## Investors

- Kenetic Capital (https://capitalatlas.ai/funds/kenetic-capital) — Seed
- AU21 Capital (https://capitalatlas.ai/funds/au21-capital) — Seed
- Arcanum Capital (https://capitalatlas.ai/funds/arcanum-capital) — Seed
- Digital Currency Group Inc. — Seed
- Fenbushi Capital (https://capitalatlas.ai/funds/fenbushi-capital) — Seed
- LD Capital (https://capitalatlas.ai/funds/ld-capital) — Seed
- Woodstock (https://capitalatlas.ai/funds/woodstock) — Seed
- Paradigm Shift Capital (https://capitalatlas.ai/funds/paradigm-shift-capital) — Seed
- Republic Crypto — Seed
- shl.vc — Seed
- HyperEdge — Seed