ConsenSys Says It Does Not Plan to Raise Funds
ConsenSys, developer of the MetaMask crypto wallet, has announced that they have sufficient funds to operate in spite of talks with investors that would provide a new capital injection.
Four informed sources have reported that the firm has met with numerous investors in recent weeks to raise additional funds.
In March 2022, the crypto wallet developer raised $450 million with a $7 billion valuation that included investors such as ParaFi Capital, Temasek, SoftBank Vision Fund 2, Microsoft, and others.
When asked about the need for extra cash, ConsenSys stated that they take all incoming investor interest into consideration, however, they are not agreeing to any dilution of the terms from the Series D Funding round.
November 2021 saw a further investment of $200 million, bringing the company’s value to $3.2 billion.
Despite the heavy capitalization, the company was forced to downsize their employees by 11% to 96 people due to optimization in the beginning of 2023.
