By It seems that ConsenSys is on the hunt for a new boost in funding. Joe Lubin. Ethereum co-founder’s Brooklyn-based venture studio is seeking to raise $200 million from new external investors as per a report published by The Information on Monday.
The Information also reported that ConsenSys is the throws of pitching to Chinese investors, claiming the company has goals to earn a whopping $50 million in revenue this year alone, primarily from contracts with industry and government clients.
Just last December, the Brazilian National Social Development Bank confirmed a rumour that it was in talks with ConsenSys.
Previously supported by Lubin’s personal fortune, ConsenSys also employed as many as 1,200 people back in 2018. In light of the price of ethereum dropping after the 2017 token craze burnt out, ConSenSys laid off almost 13% of its staff. Following a re-organisation of the company which was named Consensys 2.0 in late 2018, it became common knowledge to all that new partnerships with several traditional and external investors was a priority.
However, back in January, several formal employees told a number of publications that more layoffs were on the horizon.
The Information recently reported that ConsenSys has managed to bring in “just $21 million in revenue in 2018.” However, it’s unclear how this new income has any relation to the various startups under the ConsenSys banner. Several projects are seeking to seed their own funding as independent startups as per sources.
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