Huddle01, a US and India-based company, has raised $2.8M in a Seed Round led by Hivemind, a leading digital asset investment firm. This brings Huddle01’s total raised funds to $4.5M. Other participants in the round include Superscrypt, M31 Capital, Protocol Labs, East Ventures, Longhash Ventures, Good News Ventures, and notable angel investors such as Balaji Srinivasan, Stani Kulechov, Dan Romero, and Juan Benet.
Huddle01 aims to build the world’s first decentralized real-time communication (dRTC) network using blockchain technology. The company has taken a three-pronged approach to make audio/video communication more efficient, reliable, and secure, which includes a video meeting platform, A/V infrastructure, and dRTC network. The platform has already had more than 1 million minutes of meetings, and the infrastructure (developer SDKs) has over 100 projects built on top of it.
The dRTC network will eliminate the need for centralized servers for real-time communication, making it faster, cheaper, and more accessible than ever before. With its demand-first approach, Huddle01 plans to create enough demand on its infrastructure to ensure that when it launches the network with incentives, it becomes self-sustaining and self-propelling with better performance, privacy, and costings compared to centralized incumbents.
This story first appeared on TechByte.