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.

Interop Ventures

Seed Round in 2023
Staking infrastructure provider & venture fund supporting team embracing the vision of sovereign, interoperable, proof-of-stake blockchains.

Side Protocol

Pre Seed Round in 2023
Side Protocol is a distributed mesh liquidity solution that makes use of cutting-edge inter-blockchain asset trading application protocols. Side Protocol, in contrast to liquidity hubs, intends to decentralize liquidity between various blockchain networks while maintaining interconnection.

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 provides middleware-like traceless privacy services for decentralized applications on multiple platforms, including Ethereum, Polkadot and Binance Smart Chain, to achieve privacy, high assurance and frictionless computation.

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 is a machine-to-machine payment and dynamic routing protocol that enables new ways to fund, build, and operate telecom, utilities and infrastructure.

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, established in London in 2017 as the technology development arm of iX Technology Group, focuses on innovating the insurance industry through the application of blockchain technology. The company addresses significant challenges faced by the sector, including inefficiencies caused by multiple intermediaries and manual processes. By offering a platform that enhances trust, efficiency, and transparency, iXLedger aims to improve customer service and streamline business models. Its solutions facilitate faster transactions and reduced risks by enabling effective collaboration and data sharing among insurance professionals throughout the insurance life cycle. This approach not only helps insurers and intermediaries manage operational costs but also ensures that customers receive appropriate coverage at fair prices with reliable service.

Nexus Mutual

Seed Round in 2018
Nexus Mutual Limited is a London-based company that operates a decentralized insurance platform utilizing blockchain technology, specifically the Ethereum public blockchain. Founded in 2017, it offers a novel alternative to traditional insurance by enabling users to become members and collectively share insurance risks without the involvement of conventional insurance companies. Members can purchase coverage, and their decisions are governed by smart contracts, which ensure transparency and enforceability. Initially, Nexus Mutual launched with a product focusing on earthquake coverage, allowing participants to manage and mitigate risks collaboratively. The platform aims to recreate traditional mutual insurance models on a broader scale, providing an innovative approach to risk management in the insurance industry.

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 Switzerland-based company that operates a decentralized liquidity network and cryptocurrency wallet. It specializes in the creation of Smart Tokens, which are cryptocurrencies designed with built-in convertibility via smart contracts. The Bancor Protocol employs a unique "Connector" method to facilitate automatic price discovery and ensure continuous liquidity for all compliant tokens, eliminating the need for matching buyers and sellers in traditional exchanges. This innovative approach allows users to buy and sell tokens directly through their wallets in a straightforward and cost-effective manner. By forming token liquidity networks, Bancor aims to enhance the creation and sharing of value in the digital currency space, providing greater accessibility for user-generated cryptocurrencies.

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.

Mysterium Network

Initial Coin Offering in 2017
Mysterium Network is a decentralized virtual private networking platform that aims to enhance online privacy and freedom. Its open-source software allows individuals to participate as either providers, who sell unused network traffic, or customers, who purchase VPN services. The platform operates on a peer-to-peer basis, eliminating the need for centralized servers, which facilitates anonymous browsing and unrestricted access to content. Mysterium Network leverages blockchain technology to incentivize node operators financially, allowing users to share spare bandwidth while ensuring data privacy and security. By fostering a sustainable and open ecosystem, Mysterium Network seeks to enable secure access to an open internet for everyone.

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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