Local start-up HyperGlade secures US $ 350,000 from Tim Draper’s Draper Associates

HyperGlade CEO Kalana Muthumuni with Tim Draper

Hyperglade team

Sri Lankan Web3 and blockchain firm HyperGlade yesterday announced that it had raised US $ 350,000 in funding from Silicon Valley investor Tim Draper’s venture capital firm Draper Associates, as a part of its seed investment round. 
HyperGlade, founded over a year ago, specialises in cutting-edge solutions for businesses transitioning from Web2 architectures to the decentralised Web3 infrastructure. 
The new funding will enable HyperGlade to accelerate platform development, expand its team and solidify its position as a global leader in Web3 migration services.
Hyperglade validated its thesis on making blockchain accessible, by introducing fiat payments for NFT for the first time in the region, by hosting Sri Lanka’s first NFT auction.
Tim Draper, the founder of Draper Associates, is a renowned investor, whose portfolio includes Hotmail, Skype, Baidu, Tesla, SpaceX, DropBox, AirBnb and CoinBase. His investment in HyperGlade signifies confidence in the company and the prospects of the Sri Lankan start-up scene. “We are thrilled to have Tim Draper and Draper Associates as investors in HyperGlade. 

This investment is a major endorsement of our technology, commitment and the innovative spirit of the Sri Lankan start-up ecosystem,” said HyperGlade CEO
Kalana Muthumuni. 
HyperGlade also expressed its gratitude to Hatch Works Sri Lanka, whose unwavering support provided the opportunity for the company to connect with Draper Associates and secure this significant investment.
With a growing customer base and successful Web3 migration projects, HyperGlade is poised to become a global force in the Web3 and blockchain industry. Draper Associates’ support will help the company achieve new milestones and solidify its status as a trailblazer in
the space.