Amboss Technologies, a data analytics firm focused on the Bitcoin Lightning Network, recently closed a $4 million seed funding round. Investors included Stillmark, Valor Equity Partners, Draper Associates, Fulgur Ventures and Ride Wave Ventures. The funds were allocated to research in Artificial Intelligence (AI) and product development. Amboss enables users to make strategic decisions on routing payments across the Lightning Network through data and analytics. The platform collects analytics on 30% of nodes on the network, including key players such as Kraken Exchange and Jack Dorsey's Lightning-focused Block subsidiary TBD.

The platform adds AI and machine learning capabilities in order to facilitate node and channel management automation. Jesse Shrader, co-founder and CEO of Amboss, emphasizes on the company’s role in perfecting global payments. Additionally, a social layer has been incorporated for community groups, message boards, reputational scoring, and social sharing features.

Stillmark’s Managing Partner Alyse Killeen noted the importance of reliable payments for enterprises and institutions expecting the Lightning Network to go live in 2023. She praised the significant disruptive potential of Amboss’ products to better fits client business parameters. Namely, she cited its efficiency, availability and low transaction costs compared to other payment technologies.

In conclusion, Amboss secured a seed funding round which enables the company to continue developing its AI and product capabilities. The funds will be directed to perfect global payments and simplify the user experience of the Lightning Network. The tools and services developed by the firm provide enterprises the benefits of efficiency, availability and low transaction costs compared to other payment technologies.



Other News from Today