Nick Chong · 6 days ago · 2 min read · Insights via Grayscale Investments
Blockchain VC Firm Pithia Inc. Signs Investment Deal with Lucidity
Blockchain startups are disrupting industries worldwide through solutions for data transparency, storage and security. On Aug. 15, venture capital firm Pithia confirmed an investment deal with blockchain startup Lucidity.
RChain Ecosystem to Support Lucidity
Venture capital firm and RChain Cooperative partner Pithia Inc. has announced an investment in Lucidity.
Through the investment, Lucidity, a scalable blockchain protocol aimed at resolving inefficiencies in the digital advertising data industry, plans to expand its operations and engineering departments as well as launch international marketing campaigns.
The total investment amount was not disclosed.
Lawrence Lerner, CEO of Pithia, expressed excitement for the firm’s fourth major investment:
“There’s a lot of speculation in the blockchain ecosystem but very few real-world uses. By focusing on market-ready solutions like Lucidity, we are incubating the future of the industry and supporting companies that will impact millions on businesses and consumers in the years to come.”
Pithia is a blockchain venture capital firm focused on finding enterprise applications for RChain, a third-generation smart contract platform. Founded in 2017, Pithia has over $170 million in assets under its management.
Lucidity Disrupting Digital Ad Analytics and Supply Chain
Founded in 2017, Lucidity allows marketers to prevent fraud, expedite billing and verify data metrics through an auditable blockchain. Currently available on the Ethereum platform, Lucidity is one of the first blockchain protocols to implement second-layer scaling solutions such as Sharding and Plasma.
In an official press release, Sam Kim, CEO of Lucidity, said:
“Our product is live and now we are even better positioned to innovate and handle a massive volume of transactions, reduce blockchain overhead costs, and ensure privacy for our customers.”
Through its partnership with Pithia, Lucidity plans to build out cross-chain compatibility with other leading smart contract platforms, such as RChain. The RChain mainnet is planned to launch in Q4 2018.
“Collaborating with Pithia and RChain Cooperative supports Lucidity’s mission to build the most scalable and interoperable Layer 2 blockchain infrastructure to solve for pressing issues in the digital ad supply chain.”
Showcasing its blockchain 3.0 ecosystem, Pithia plans to use the high volume data processing of Lucidity to exhibit the platform’s scalability and security. With the expanse of scalable smart contract platforms, it’s becoming evident that enterprise blockchain solutions are on the rise.