Investors include Andreessen Horowitz and RRE Ventures, Yuan Capital and Qualcomm.
Silicon valley bitcoin startup 21 Inc has reportedly raised $116m in venture funding in several rounds.
The company’s lead investors include Andreessen Horowitz and RRE Ventures, Yuan Capital, Qualcomm, Khosla Ventures and Data Collective.
eBay co-founder Jeff Skoll, Dropbox CEO Drew Houston, PayPal co-founders Peter Thiel and Max Levchin, Expedia CEO Dara Khosrowshahi, and Zynga co-founder Mark Pincus have also invested in 21 Inc.
According to the Wall Street Journal, 21 Inc chief executive officer and co-founder Matthew Pauker indicated several interesting developments over the next weeks and months that will deal with software and hardware products designed to drive mainstream adoption of bitcoin.
Pauker told the news agency that 21 Inc aims to leverage Qualcomm’s mass-marketing and production capabilities in the development of a suite of consumer products that integrate with bitcoin’s core technology, dubbed the blockchain.
21 Inc was incorporated in 2007 following the Next New Brunswick initiative, which brought together 21 youth leaders for a 1-year programme exploring the future of New Brunswick.
Bitcoin is an online payment system claimed to be invented by Satoshi Nakamoto and released as open-source software in 2009.