Nebulous, the parent company behind Sia, has rebranded under the name Skynet Labs and raised $3 million for future development.
Skynet’s $3 million funding round was led by Paradigm, along with Bain Capital Ventures, Bessemer Venture Partners, A.Capital, Collaborative Fund, Dragonfly Capital Partners, Hack VC, INBlockchain, First Star Ventures.
The company has said little about what it will do with the funds, apart from using the money to facilitate growth.
“The round will help the company scale and accelerate the development and adoption of Skynet,” the project explained in its announcement.
Paradigm says that it is investing in Skynet because it believes the company has “the right combination of talent, experience, and community” to bring about the decentralized web.
The funds by Skynet raised will presumably recoup the $225,000 in fines that the company paid to the Securities and Exchange Commission (SEC) in 2017 over an unregistered token sale.