Foxconn Backs $16 Million Series B for Bitcoin Startup Abra

Foxconn Backs $16 Million Series B for Bitcoin Startup Abra

Bitcoin startup Abra has completed a $16 million Series B led by manufacturing giant Foxconn. Announced today at the Money2020 conference in Las Vegas, the new capital brings Abra’s total funding to more than $30 million . Other participants in the round include new investors Silver8 Capital and Ignia, as well as previous Abra backers Arbor Ventures, American Express, Jungle Ventures, Lehrer Hippeau and RRE. However, just as notable is that the round marks Foxconn’s first investment in a bitcoin-focused firm. While, previously, Foxconn has tested blockchain technology for supply chain management , its investment in Abra shows a […]