Capsule gets $1.5M to build ‘super simple’ decentralized social media

11 Mar, 2021

Capsule gets $1.5M to build ‘super simple’ decentralized social media
Photo by Alex Shutin on Unsplash

– Capsule, a decentralized social media platform, raised $1.5m in seed funding.
– The round was led by Beacon Fund, a dedicated crypto fund by Polychain Capital — which is itself focused on startups building on Dfinity’s decentralized network for next-gen ‘open’ apps (aka, the Internet Computer).
– Mobile apps are also on the cards and the funding will be used to build out Capsule’s team as well (currently it’s around four people).
– Capsule founder Nadim Kobeissi, a cryptography researcher who previously authored the open-source E2E-encrypted desktop chat app Cryptocat, says they’re on track to put out an MVP this month — once they’ve made a few tweaks to the infrastructure.

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