KR1

KR1 plc is a prominent digital asset investment company based in Douglas, Isle of Man, focused on decentralized and open-source blockchain networks. Established in March 2016, KR1 has emerged as a significant player in the European digital asset sector, concentrating on early-stage investments in blockchain and cryptocurrency startups. The firm has made a total of 29 investments since its inception, demonstrating its commitment to fostering innovation in the digital asset landscape. KR1 has not yet exited from any of these investments, reflecting a long-term investment strategy aimed at supporting the growth of foundational projects within the industry.

George McDonaugh

Co-Founder, CEO and Managing Director

Keld van Schreven

Co-Founder and Managing Director

43 past transactions

Code & State

Seed Round in 2025
Code & State is a venture studio focused on developing and scaling stablecoin ventures within the web3 ecosystem. It aims to support the next generation of entrepreneurs by providing incubation and funding for innovative projects. The company specializes in creating tools, systems, and frameworks that enable entrepreneurs to effectively build businesses and generate revenue on the Internet Computer protocol. Through its initiatives, Code & State seeks to facilitate the growth of new ventures in the evolving landscape of digital finance.

Mode Network

Seed Round in 2024
Mode Network is a DeFi blockchain platform that builds new on-chain economic systems to enable developers to scale their applications.

Tanssi Network

Seed Round in 2024
Tanssi is an app chain infrastructure protocol that simplifies app chain deployment, making it secure, efficient, and easy while eliminating the lengthy and complex process of traditional blockchain implementation.

Superchain Network

Seed Round in 2023
Superchain Network solution promotes a mental change away from "Web2" centralized systems and towards "Web3" decentralized design.The objective of Superchain is to realize a truly decentralized data protocol built around users instead than computer constraints.

Subspace Labs

Funding Round in 2022
Subspace Labs is a distributed research and development company behind the Subspace Network. While based in Palo Alto, CA, we are a global, remote-first team of protocol hackers and cryptocurrency enthusiasts. The Subspace Network is a layer zero protocol that is fully interoperable with any layer one, allowing it to serve as an infrastructure layer for the entire Web3 ecosystem. Based on years of original R&D, Subspace is the first protocol to truly resolve the blockchain trilemma, providing an open, scalable platform for both storage and compute. Subspace currently supports Polkadot and Kusama, with more networks coming soon.

Interlay

Venture Round in 2021
Interlay is building an open system backed by top-tier research, which allows any user to invest, earn and pay with Bitcoin on any blockchain. Through decentralized insurance collateral and cryptographic proofs users are protected against theft and censorship.

Superchain Network

Pre Seed Round in 2021
Superchain Network solution promotes a mental change away from "Web2" centralized systems and towards "Web3" decentralized design.The objective of Superchain is to realize a truly decentralized data protocol built around users instead than computer constraints.

RedStone

Pre Seed Round in 2021
RedStone is a quickly growing blockchain startup, building two data-focused products aimed to unlock the potential of DeFi & Web3: 1. RedStone Oracles: A new generation of blockchain oracles with a novel architecture that optimises the way data is delivered to decentralised Apps (dApps). RedStone provides 1,100+ data feeds delivered at a few seconds refresh interval to Ethereum, Polygon, Avalanche, Arbitrum and 30+ other top chains. We support price feeds for assets such as popular & long-tail tokens, fiat currencies, commodities, stocks, NFTs floor and RedStone can deliver also other types of data i.e. transactions volume data or results of real-world events like sports games. Available feeds -> https://app.redstone.finance/ ; Sample integration on popular chains -> https://showroom.redstone.finance/ 2. Warp: A data-processing Smart Contract layer on top of the Arweave data storage chain. Warp is optimised for data-heavy use cases such as sophisticated gaming & social dApps, interactive NFTs, simple on-chain Machine Learning and other blockchain-based solutions that have not been feasible before, due to huge data processing costs on chains like Ethereum or Avalanche. Warp overview -> https://warp.cc/ ; Warp Academy -> https://academy.warp.cc/ RedStone Gitcoin grant -> https://gitcoin.co/grants/5477/redstone-new-generation-of-oracles-for-defi Warp Gitcoin grant -> https://gitcoin.co/grants/7733/warp-contracts-on-arweave-revolution-of-on-chain-

Interlay

Seed Round in 2021
Interlay is building an open system backed by top-tier research, which allows any user to invest, earn and pay with Bitcoin on any blockchain. Through decentralized insurance collateral and cryptographic proofs users are protected against theft and censorship.

Divergence Protocol

Seed Round in 2021
Divergence Protocol is a decentralized platform for composable crypto options and volatility derivatives.

zCloak Network

Seed Round in 2021
zCloak Network is a privacy-focused infrastructure that provides decentralized identity (DID) and verifiable computation services. Its primary goal is to enhance user self-sovereignty by shifting both the storage and processing of personal data from centralized servers to user devices. By utilizing a STARK-based zero-knowledge virtual machine, zCloak ensures the integrity of computations performed through a browser extension. The network's W3C-compatible DID system reflects real-world legal status and reputation, facilitating applications in decentralized finance, identity verification, and biometrics without compromising user privacy. Additionally, zCloak Network is chain-agnostic, offering identity and zero-knowledge proof services compatible with most public blockchains. The company has secured over $7 million in funding from prominent venture capital firms.

Equilibrium

Seed Round in 2021
Equilibrium is a software service with a consensus based governance system. EQ token, EOSDT, and Native Utility Token (NUT) are not a security or a regulated instrument.

Moonbeam Network

Funding Round in 2021
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications.

PureStake

Series A in 2021
PureStake, Inc. is a company that develops infrastructure and services for public blockchain networks, focusing primarily on the Algorand and Polkadot ecosystems. Founded in 2019 and based in Burlington, Massachusetts, PureStake offers a range of products and services including the AlgoSigner wallet extension, APIs, a block explorer called goalseeker, and infrastructure solutions for both private and co-chain environments. Additionally, the company provides validator services for the Polkadot Network and supports smart contract development on the Moonbeam platform. PureStake aims to facilitate secure and reliable participation in blockchain networks through its cloud-based platform, which employs an automated multi-pop and multi-cloud approach for enhanced user experience.

Automata Network

Seed Round in 2021
Automata Network is a decentralized protocol that offers middleware-like privacy services for decentralized applications across various platforms, including Ethereum, Polkadot, and Binance Smart Chain. Its focus is on delivering traceless privacy, which enhances user trust in computing systems by ensuring the authenticity of operations on-chain. By facilitating high assurance and frictionless computation, Automata Network aims to empower clients to maintain privacy while engaging in decentralized activities.

Celestia

Seed Round in 2021
Celestia is a modular blockchain network provider that facilitates the deployment of decentralized blockchains without the complexities of establishing a new consensus network. Founded in 2019 and based in Vaduz, Liechtenstein, the company offers a scalable data availability layer designed for decentralized applications and trust-minimized sidechains. This platform allows application developers to optimize data storage efficiently while enabling collective storage of block data. Through its innovative approach, Celestia aims to simplify blockchain development and enhance the scalability of decentralized solutions.

Tidal Finance

Seed Round in 2021
Tidal Finance is a flexible DeFi insurance platform and marketplace, offering APYs in the industry. Tidal Finance allows users to earn higher returns while also securing and insuring the DeFi and blockchain economies. Tidal Finance is a customized, subscription-based insurance platform that protects blockchain companies and protocols from hacks and smart contracts.

PureStake

Seed Round in 2020
PureStake, Inc. is a company that develops infrastructure and services for public blockchain networks, focusing primarily on the Algorand and Polkadot ecosystems. Founded in 2019 and based in Burlington, Massachusetts, PureStake offers a range of products and services including the AlgoSigner wallet extension, APIs, a block explorer called goalseeker, and infrastructure solutions for both private and co-chain environments. Additionally, the company provides validator services for the Polkadot Network and supports smart contract development on the Moonbeam platform. PureStake aims to facilitate secure and reliable participation in blockchain networks through its cloud-based platform, which employs an automated multi-pop and multi-cloud approach for enhanced user experience.

Moonbeam Network

Seed Round in 2020
Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications.

Acala Network

Series A in 2020
Acala Network is a decentralized finance hub and stablecoin platform that facilitates cross-blockchain transactions within the Polkadot network. Based in the United States, it enables users to send and receive USD across various connected blockchains. The platform provides a range of financial tools, including a multi-collateralized stablecoin backed by diverse assets such as Bitcoin, a trustless staking derivative, and a decentralized exchange. These features are designed to enhance liquidity and promote innovation in financial applications, making transactions more convenient and secure for users.

Acala Network

Seed Round in 2020
Acala Network is a decentralized finance hub and stablecoin platform that facilitates cross-blockchain transactions within the Polkadot network. Based in the United States, it enables users to send and receive USD across various connected blockchains. The platform provides a range of financial tools, including a multi-collateralized stablecoin backed by diverse assets such as Bitcoin, a trustless staking derivative, and a decentralized exchange. These features are designed to enhance liquidity and promote innovation in financial applications, making transactions more convenient and secure for users.

Vega Protocol

Seed Round in 2019
Vega is a technology protocol and crypto-asset for an open, blockchain-backed public network for fully automated end-to-end financial product trading and execution. Fully automated processes and incentives for trading margined financial products allow for markets that are open and decentralized, with pseudonymous participants. The platform of the company provides open and fair markets in which fees are shared by market makers, not owners, and governance decisions are made by the community, allowing financial institutions to open access, reduce costs, and enable a new wave of financial market innovation.

FOAM

Seed Round in 2018
FOAM is focused on developing geospatial protocols that enhance location verification and mapping services through a decentralized framework. The company aims to create a crowdsourced map and location services platform that operates on an open network of terrestrial radios, allowing users to contribute and utilize location data without relying on a central authority. This fault-tolerant system addresses the challenges associated with traditional location verification methods. FOAM's team, consisting of blockchain developers, designers, architects, and urban planners, collaborates from the New Lab at the Brooklyn Navy Yard, an innovative workspace dedicated to supporting urban entrepreneurs who leverage advanced technologies for the improvement of global infrastructures.

Etherisc

Seed Round in 2018
Etherisc is focused on developing decentralized insurance applications to streamline the insurance process. The company aims to make purchasing and selling insurance more efficient, which contributes to lower operational costs and greater transparency compared to traditional insurance models. By democratizing access to reinsurance investments, Etherisc seeks to provide affordable insurance solutions, thereby enhancing fairness in the industry.

Althea L1

Seed Round in 2018
Althea L1 is a networking platform that enables communities to establish their own internet service providers (ISPs) through decentralized mesh networks. By providing custom firmware for internet routers, Althea facilitates the creation of local networks where users can negotiate internet bandwidth directly, thus reducing inefficiencies and eliminating intermediaries in broadband access. The platform primarily functions in wireless networks, utilizing small antennas installed on rooftops to distribute internet signals, allowing owners to earn revenue from their contributions. Althea's model invites individuals to join existing networks or invest in equipment to enhance network capacity, fostering community-driven internet access that is both faster and more affordable.

DFINITY

Venture Round in 2018
DFINITY Foundation is a not-for-profit organization based in Zurich, Switzerland, with additional offices in San Francisco, California. Founded in 2016, it focuses on developing the Internet Computer, a decentralized cloud platform designed to facilitate the creation and hosting of web applications. The foundation is a key contributor to the Internet Computer Protocol (ICP), which enables independent data centers to collaborate and provide secure, serverless cloud functionality. DFINITY also offers the Canister software development kit (SDK) to assist users in building applications on this platform. By leveraging blockchain technology, DFINITY aims to simplify the development of sophisticated web applications, allowing non-technical users to create and manage these tools through natural language interactions. This vision seeks to transform the internet into a decentralized "World Computer," enhancing security and promoting the adoption of Web3 technologies. The foundation operates research centers in multiple locations, including Palo Alto and Shanghai, driving innovation within its ecosystem.

SatoshiPay

Venture Round in 2018
SatoshiPay offers solutions for B2B cross-border money transfer and frictionless micropayment processing through its blockchain-based instant payments platform. The company was founded in 2014 and is headquartered in London, with development led through its Berlin office. SatoshiPay is backed by Europe’s largest digital publishing house Axel Springer and San Francisco-based Stellar Development Foundation. Find frequent updates at satoshipay.io and Twitter @SatoshiPay.

Blocksmith

Seed Round in 2018
Blocksmith is a blockchain development agency that leverages experience in building products by Whitesmith and supported by KR1. It demystifies the application of blockchain in the business world helping startups and corporate mavericks pragmatically assess the advantages of using blockchain and define together a strategy that fits their business. It also democratizes access to the blockchain, using this technology where it will make a difference to solve real problems and launch brilliant blockchain-enabled products accessible to everyone. The London, England blockchain agency was founded in 2018.

Agrello

Seed Round in 2018
Agrello is an Estonian high-tech company established in 2017, specializing in digital identities and electronic signatures. The company focuses on creating secure applications for customer onboarding, transactions, and legal processes through its innovative e-signing platform. By leveraging blockchain technology, Agrello enhances transparency and trust in the digital landscape, allowing individuals to manage agreements and contracts efficiently. Its solutions aim to empower the digital economy by fostering a borderless network of trust, enabling users to connect securely regardless of their physical location. Agrello's products are accessible through app stores, highlighting the company's commitment to bridging the gap between the physical and digital worlds.

iXLedger

Seed Round in 2018
iXLedger is the technology development arm of iX Technology Group and was founded in London in 2017, with the encouragement of clients interested in innovation and new business models. Technology driven innovation is an increasing focus for the insurance industry which faces challenges on many fronts. A core issue is that the insurance product is often handled by several layers of intermediaries using manual, highly inefficient processes. Customers require suitable coverage at a fair price, from trusted insurers delivering good service and fast claims settlement. Insurers and intermediaries need access to quality business and to manage their operational and distribution costs across the insurance value chain. Blockchain technology – a distributed, decentralised ledger that is immutable, secure, fast and transparent – has huge potential to enable the industry to face these challenges. This peer-to-peer ecosystem facilitates increased trust, efficiency, and transparency – resulting in improved customer service, cost-efficient business models, faster transactions, and reduced risk through data access and collaboration

Nexus Mutual

Seed Round in 2018
Nexus Mutual Limited operates a decentralized insurance platform built on the Ethereum blockchain, enabling users to share insurance risk collaboratively without involving traditional insurance companies. Founded in 2017 and based in London, Nexus Mutual allows members to purchase coverage and participate in decision-making processes that are recorded and enforced through smart contracts. The platform aims to replicate the mutual insurance model on a large scale, providing an innovative solution for risk sharing. Initially, Nexus Mutual launched with a product offering earthquake cover, highlighting its focus on addressing specific insurance needs within the emerging blockchain landscape. Through its technology, the company facilitates the identification of security risks and potential bugs in smart contract code, reinforcing its commitment to transparency and member empowerment in the insurance sector.

Herdius

Seed Round in 2018
Herdius intends to build a new infrastructure layer on top of all blockchains. Through their vertically scalable chain and distributed virtual wallet network, Herdius aims to tackle identity & interoperability as well as create a crypto asset agnostic decentralized exchange.

Bancor

Seed Round in 2018
Bancor is a cryptocurrency platform headquartered in Zug, Switzerland, that focuses on creating a decentralized liquidity network. It offers a system for developing Smart Tokens, which are cryptocurrencies designed for built-in convertibility through their smart contracts. By employing a unique token "Connector" method, Bancor facilitates formulaic price calculation and ensures continuous liquidity for all compliant tokens without the need for matching buyers and sellers in traditional exchanges. This approach allows users to buy and sell tokens directly from their wallets, fostering an environment where user-generated cryptocurrencies can flourish while removing barriers to entry. The platform aims to transform how value is created and shared in the digital economy.

Bluzelle

Initial Coin Offering in 2018
Bluzelle is a developer of a blockchain database aimed at addressing data storage and management challenges for decentralized applications. The company's solutions provide multi-region coverage and widespread availability, enhancing network security and scalability while minimizing global impact. Bluzelle's offerings are designed to keep data fresh and secure, protecting it from hackers and ensuring resistance to censorship. Catering to a diverse clientele that includes small and medium-sized enterprises as well as large corporations, Bluzelle focuses on creating integrated blockchain applications, middleware, and data services tailored to meet the specific needs of its customers.

Connext

Convertible Note in 2018
Connext, Inc. is a technology company based in San Francisco, California, founded in 2017 by Arjun Bhuptani, Layne Haber, and Rahul Sethuram. The company specializes in developing software that facilitates the purchase and management of blockchain applications. It offers features such as direct card purchases for tokens, access to existing vaults, decentralized compliance, and walletless signature capabilities. Additionally, Connext operates as an interoperability protocol, enabling fast and trustless communication between different blockchains. This innovation supports the creation of a more interconnected blockchain ecosystem.

FunFair Technologies

Initial Coin Offering in 2017
FunFair Technologies is a developer of an online gaming and blockchain platform focused on providing a decentralized gaming experience. The company enables users to quickly establish low-cost blockchain casinos, allowing them to create and operate their own gaming environments. By leveraging the latest blockchain technologies and scaling solutions, FunFair Technologies addresses challenges in the gaming industry while facilitating seamless access to casino games. Users can engage in these games and earn rewards through tokens and digital currencies, making the platform accessible and financially beneficial.

Melonport

Seed Round in 2017
Melonport is the private company building the open-source Melon Protocol. The Melon protocol is a blockchain protocol for digital asset management built on the Ethereum platform. It enables participants to set up, manage and invest in digital asset management strategies in an open, competitive and decentralised manner. Read the Melon Protocol Green Paper for a full detailed description of how it will empower its users and evolve digital asset management.

Augur

Seed Round in 2016
Augur is an open-source, decentralized prediction market platform built on the Ethereum blockchain. It aims to revolutionize the way information consensus is collected and aggregated by allowing users to create and participate in markets on various events, such as elections or economic predictions. Utilizing blockchain technology, Augur eliminates counterparty risk and centralized servers, enabling a global market accessible through cryptocurrencies. The platform allows users to trade quickly and efficiently while minimizing trading costs, making it a unique solution for forecasting outcomes and hedging against risks.

Ethereum Foundation

Seed Round in 2015
The Ethereum Foundation is dedicated to supporting the development and promotion of the Ethereum platform, which enables the creation and deployment of decentralized applications and smart contracts. Founded in 2014 and based in Baar, Switzerland, the foundation facilitates a decentralized ecosystem that allows users to securely manage digital assets and engage in a variety of activities such as crowdfunding, decentralized governance, and the creation of new cryptocurrencies. By providing tools and resources for developers, the Ethereum Foundation aims to foster innovation in areas like voting, intellectual property, and financial services. Its commitment to a decentralized infrastructure promotes resilience and security, making it easier for developers to build on the platform.
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