Home / Blog / Libra Rival Celo Announces $700,000 in Grant Funding for 13 Startups

Libra Rival Celo Announces $700,000 in Grant Funding for 13 Startups

Libra Rival Celo Announces $700,000 in Grant Funding for 13 Startups

Open-source funds community Celo has introduced its first spherical of improvement grant recipients.

A press launch shared with Cointelegraph states that Celo has awarded $700,000 in grants to 13 completely different firms who wish to construct on prime of the community, contribute to the event of the Celo platform, or foster the Celo group.

The venture has already acquired greater than 50 grants proposals from groups based mostly in 16 completely different international locations and can proceed to just accept proposals till May 19.

Celo Awards $700,000 to 13 builders in first spherical of grant funding

Celo states that the chosen grant recipients “present constructing blocks to assist strengthen the Celo protocol, present extra entry to the financially underserved, and develop applications to assist educate and nurture the Celo group.” 

The recipients constructing services on Celo embody eSolidar — a charity market platform, Philippine-based digital present card platform Beam & Co, Brazilian crypto-powered platform for small paid duties LoveCrypto, funds platform Pay with Mon, and invoice remittance platform SaldoMX.

The Blockchain for Social Impact Coalition — a nonprofit for incubating Ethereum and blockchain-based options to deal with the United Nations’ Sustainable Development Goals — can be a recipient of funding from Celo.

The largest cohort of recipients are startups “building blocks to strengthen and scale the Celo platform” — which embody Chorus One, Forbole, Gitcoin, Stake.fish, Figment, Gauntlet and Chainsafe.

Grants meant to foster Celo group and ecosystem

Celo introduced its group grant program on Dec. 17, 2019, encouraging all “developers, designers, dreamers, and doers committed to building an open financial system” to use.

The grants sought to foster improvement in governance and validator instruments, on and off-ramps for funds and point-of-sale techniques, sensible contracts, and group schooling, in addition to progressive new use circumstances for the platform.

Libra members be part of Celo to hedge bets

On March 11, the Celo Foundation revealed the 50 founding members of its “Alliance for Prosperity,” together with main tech, funding, funds, and cryptocurrency companies.

Among the alliance are a number of Libra Association members, together with Andreessen Horowitz, Coinbase Ventures, Anchorage Mercy Corps, and Bison Trails.

During April 2019, Celo raised $30 million from famous blockchain buyers Polychain Capital and Andreessen Horowitz.

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