Software development company Tendermint has raised $9 million in funding, the company has announced in a Medium post. The Series A investment round was led by Paradigm, a crypto investment company, and other investors also included companies such as Bain Capital and 1confirmation. The closing of the round coincides with the launch of Cosmos Hub. With Cosmos Hub live, there are a number of blockchain projects which use Tendermint Core technology that are in the works, planning to connect to the Cosmos Hub.
According to Jae Kwon, CEO of Tendermint and Contributor of Cosmos, blockchain technology has been hindered by limitations like scalability problems and a lack of usability. He believes, however, that Cosmos aims to provide solutions to these issues and can potentially “overcome these limitations,” leading to the creation of an Internet of Blockchains.