LONDON, April 20, 2021 (Newswire.com) - U.S.-based Borderless Capital, will become the latest VC to invest into Cudo Ventures Ltd (Cudo) and token subsidiary (Cudos).
Led by fintech veterans David Garcia and Arul Murugan, Borderless Capital is firmly focused on generating value across all levels of the Algorand tech stack. With a portfolio including Blockdaemon, HummingBot, Pocket Network, and Otoy/RNDR, Cudos will become the latest addition to an innovative set of companies evolving blockchain technology.
The Cudos layer-2 decentralized network will, later this year, integrate with the Algorand ecosystem, providing Turing-complete computing power to the high performing, scalable layer-1 protocol. Developers within the Algorand ecosystem will be able to deploy more intensive complex computation workloads to the Cudos network, with the Cudos network sending the recordable data back to the Algorand blockchain via smart contracts.
As part of the deal, Borderless Capital will also become an advisor to Cudo, providing expertise across market & industry developments and strategy, whilst also connecting Cudo's business development team to other projects developing within the Algorand ecosystem.
David Garcia, CEO and Managing Partner of Borderless Capital, added: "We are excited to back Cudos as a market-leading distributed computing solution on Algorand. Enabling retail and enterprise users to monetize compute capacity, by leveraging native Algorand layer-1 features like atomic swaps for pay-outs and integrating with upcoming layer-2 scaling solutions, Cudos will provide the backbone compute power required for intensive workloads.''
"In Borderless Capital, we have a strategic partner that not only sees our vision but will also help us to realise it. After agreeing a partnership with Algorand and being awarded a grant by the Algorand Foundation, the investment from Borderless Capital demonstrates the faith that David, Arul and the rest of the team have shown in Cudos from our very first call. We're excited to have them onboard and contributing to our success." Matt Hawkins, CEO of Cudos.
About Borderless Capital
Borderless Capital is a modern financial institution investing capital and co-building financial products that accelerate access, bootstrap adoption, and create value globally through the Algorand Borderless Economy. We do not stop with just investment. We also provide guidance and mentorship to grow our portfolio companies into successful and category-leading businesses. As a thought leader in blockchain with deep expertise in the Algorand ecosystem, we advise our portfolio companies on go-to-market strategies to effectively build their network effect. In short, we leverage the synergy of our portfolio, partners network, and domain expertise to create value for everyone.
For more info: www.borderlesscapital.io
Cudos is bridging the gap between Cloud and Blockchain, by using the world's available computing to power a more decentralized, sustainable and connected world.
The Cudos Network is being designed as a cross-chain, decentralized compute network, with CUDOS as the utility & infrastructure token designed to empower Web 3.0 operations on the network. The Cudos network will enable anyone to sell or consume excess computational resources, either via blockchain/smart contract or through more traditional cloud computing APIs. In essence, what this means is Cudos will be one of the few networks which can power other blockchains and scale to the demands of cloud computing required today.