Biconomy Raises $9M to Make Building Dapps Easier for Devs

Biconomy announced Wednesday that it has raised $9 million in a funding round led by Mechanism Capital, with participation from Coinbase Ventures, Huobi Innovation Labs, CoinFund and other crypto investment firms. According to Biconomy’s CEO, Ahmed Al-Balaghi, the steps required to interact with dapps – creating a crypto wallet, purchasing and transferring tokens, managing gas fees – is enough to put off many first-timers. The platform’s blockchain-agnostic relayer network, which includes software development kits (SDKs) and application programming interfaces (APIs), is designed to help developers build decentralized apps (dapps) that are simpler and more user-friendly.