# Elrond

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elrond

- Industry: IT Infrastructure
- Headquarters: Malta, Malta
- Website: www.elrond.com
- Total disclosed funding: $1.9M
- Latest round: Seed (Jun 19, 2019)
- Investors on record: 8

## About

Elrond Ltd is a blockchain technology company that provides innovative solutions for decentralized applications, focusing on scalability, security, and efficiency through its native token, EGLD.Elrond Ltd, founded in 2017 in Malta, specializes in blockchain technology solutions. The company was established by Adrian Dobrita, Beniamin Mincu, Lucian Mincu, and Lucian Todea, with Beniamin Mincu serving as CEO. In October 2021, Elrond raised USD 15 mn in funding from Morningstar Ventures, marking a significant milestone in its growth. The company has executed a total of 4 deals to date.Elrond Ltd offers a comprehensive suite of blockchain technology solutions centered around its native token, EGLD. The MultiversX blockchain operates as a scalable and secure network, supporting over 3,600 validator nodes and achieving a transaction capacity of 263,000 transactions per second. This infrastructure enables the development of decentralized applications (dApps) across various sectors, such as finance, gaming, and logistics, providing tools like adaptive state sharding and a WASM-based virtual machine.The revenue model of Elrond is driven primarily by transaction fees from its blockchain network, where developers keep 30% of the gas fees from their smart contracts' interactions. The platform collaborates with service providers and businesses, including partnerships with Ledger and Amazon Web Services, to enhance its ecosystem and generate revenue through transactional activities. Specific pricing details for transactions and services remain proprietary.Elrond plans to leverage the recent venture funding of USD 15 mn raised in October 2021 to enhance its product offerings and expand into new markets. The company aims to develop new products and services tailored to the demands of emerging sectors, with specific focus on increased adoption in Europe, Asia, and North America. As part of its growth strategy, Elrond intends to strengthen its partnerships and improve its technological infrastructure to support the growing needs of developers and enterprises.

## Funding rounds

- Seed, Jun 19, 2019, $1.9M — Electric Capital, YZi Labs, Maven11 Capital, Authorito Capital, NGC Ventures, Woodstock, AU21 Capital, Mapleblock Capital
- Seed, Apr 5, 2019 — Electric Capital, YZi Labs, Maven11 Capital

## Investors

- Electric Capital (https://capitalatlas.ai/funds/electric-capital) — Seed
- YZi Labs (https://capitalatlas.ai/funds/yzi-labs) — Seed
- Maven11 Capital (https://capitalatlas.ai/funds/maven11-capital) — Seed
- Authorito Capital — Seed
- NGC Ventures (https://capitalatlas.ai/funds/ngc-ventures) — Seed
- Woodstock (https://capitalatlas.ai/funds/woodstock) — Seed
- AU21 Capital (https://capitalatlas.ai/funds/au21-capital) — Seed
- Mapleblock Capital (https://capitalatlas.ai/funds/mapleblock-capital) — Seed