Bitcoin startup 21 Inc raises $116 million

Beijing time, March 11th morning news, The Wall Street Journal reported that Silicon Valley startup 21 Inc has completed US$116 million in financing to expand the application of its Bitcoin technology.

21 Inc's major investors include venture capital firms Andreessen Horowitz and RRE Ventures. Qualcomm also made a strategic investment in the company through its venture capital arm.

San Francisco-based 21 Inc did not disclose the company's valuation or how it will use the funds.

Matthew Pauker, the company’s co-founder and CEO, said the company will have some “interesting developments” around product design in the coming weeks and months that will “drive mainstream adoption of Bitcoin.”