TechFlow reported on October 15 that, according to Fortune, blockchain startup Predicate has announced a $7 million funding round from top-tier venture capital firms including Tribe and 1kx. Founded by two former employees of the blockchain project Celo, the company aims to help cryptocurrency companies better comply with regulatory requirements.
Predicate offers services enabling crypto applications to seamlessly implement transaction approval logic, a decision built upon complex infrastructure similar to the underlying technology powering products like Netflix and Venmo. Co-founder Nikhil Raghuveera stated that their goal is to simplify the bridging process between blockchain technology and traditional economies.
The company's solutions will be available on Ethereum and EVM-compatible chains, with plans to expand to other blockchains in the future. Predicate is also collaborating with EigenLayer, a recently launched restaking network, to develop an operator community that deploys Predicate's technology using a proof-of-stake system.
Currently employing six people, Predicate plans to grow its team to ten using the proceeds from this funding round. At this stage, the company will offer customized integration services for new clients and charge transaction fees, though it has not yet disclosed its initial client list.
