Chain Reaction News
10 articles
Growth-Positive
“We will be the next huge company to come out of Israel” | CTech
Chain Reaction, a five-year-old Israeli startup, has been named as the fourth most promising startup in the country. The company, which has already raised $115 million in funding, is on the brink of transitioning from a value company to a product company, according to CEO Alon Webman. He believes that the company has the potential to generate hundreds of millions of dollars in revenue in its fifth or sixth years. Chain Reactions ranking is due to its disruptive blockchain and privacy technology.
Investment
growth-negative
"I was offered a check for 30 million dollars to develop a chip. I realized there was something crazy here" | TheMarker
מלאנוקס, a startup founded by Alon and Bman, is developing crypto chips for privacy and bitcoin mining. The company was founded during the crypto boom but is now facing a market decline as it prepares to launch its product.
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growth-positive
Minister Audrey Tang Witnesses the Signing of MOU between ITRI and New Innovation Israel to Demonstrate Cutting-Edge CyberSecurity Chip-Press Releases-News and Releases｜Ministry of Digital Affairs
Taiwans Industrial Technology Research Institute (ITRI) and Israeli cybersecurity chip start-up, Chain Reaction, have signed a Memorandum of Understanding (MOU) to jointly develop advanced chips for full homomorphic encryption, zero-knowledge proof, and other evidence fields. This partnership aims to ensure cybersecurity and privacy protection for AI and web3 applications. The MOU is part of the Administration for Digital Industries’ Cross-Domain Cyber Security Project, which aims to develop privacy protection technologies to ensure the security of Internet of Things data, and to promote domestic applications and international cooperation.
Partners
growth-positive
BIT Mining and Chain Reaction Form Collaboration for Bitcoin Hashing Systems
BIT Mining Limited, a cryptocurrency mining company, has announced a collaboration with Chain Reaction, a semiconductor company. The partnership aims to produce next-generation systems for bitcoin mining, based on Chain Reactions EL3CTRUM ASIC solution. The systems are expected to launch later this year. BIT Mining is a market leader in the architecture and mass production of high-performance, low power systems for the cryptocurrency mining industry. Chain Reaction designs hardware for blockchain, privacy, HPC and the cloud.
Partners
growth-positive
Chain Reaction and ePIC Blockchain Forge Collaboration for Hashing Systems
ePIC Blockchain is collaborating with Chain Reaction to produce next-generation hashing systems for Bitcoin mining. The systems, expected in late 2023, will be based on Chain Reactions EL3CTRUM ASICs. This partnership aims to deliver high-performance and efficient solutions for the Bitcoin proof-of-work problem, facilitating scalability and meeting industry requirements. ePIC Blockchain will leverage Chain Reactions expertise to deploy new generations of hardware. The collaboration is seen as a growth-positive development for ePIC Blockchain.
PartnersCustomers
Growth-Positive
Chain Reaction Launches EL3CTRUM, the Most Powerful Blockchain Technology on the Market
Semiconductor company Chain Reaction has announced the launch of its EL3CTRUM product line, featuring a high-performance ASIC for Bitcoin mining. The ASIC delivers industry-leading energy efficiency and is designed for mining Proof-of-Work cryptocurrencies that use the SHA256 algorithm. The product line will be available to enterprise miners in a variety of form factors. Chain Reaction has also established a reliable supply chain for the different form factors. The company plans to demonstrate prototypes at Bitcoin 2023. Chain Reaction is partnering with cloud and data centers to transform compute infrastructure with its custom ASICs and systems.
CustomersPartners
Growth-Positive
Israeli blockchain chip startup Chain Reaction raises $70 mln
Tel Aviv-based blockchain chip startup Chain Reaction has raised $70 million in funding, which it plans to use to expand its engineering team and develop its next chip. The company is set to start mass producing its blockchain chip, Electrum, in the first quarter of this year. The chip is designed to carry out blockchain operations quickly and efficiently and can also be used for mining digital currencies like bitcoin. CEO Alon Webman is confident that the company can gain market share in the blockchain chip segment, supporting its goal of creating a fully homomorphic encryption chip that allows users to work on encrypted data.
InvestmentExpand
growth-positive
Chain Reaction raises $70M, emerges from stealth to launch chips designed to compute encrypted data
Israeli startup Chain Reaction has raised $70 million in a Series C funding round, bringing its total funding to $115 million. The company is designing semiconductors and related architecture for use in blockchain and privacy hardware. The funds will be used to expand the team and bring its first products to market in Q1 2023. Chain Reactions products include Application Specific Integrated Circuits (ASICs) and solutions for cloud data infrastructure designs. The company aims to reduce electricity consumption and speed up compute by optimizing its design for cryptographic calculations. Chain Reaction works with TSMC as its sole foundry partner. The co-founders have experience in the semiconductor industry, with one being a co-founder of Mellanox and the other having a background in cyber and tech for the Israeli Prime Minister.
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growth-positive
Chain Reaction raises another $70 million for blockchain and privacy chip | CTech
Israeli startup Chain Reaction has raised $70 million in its Series C funding round, bringing its total funding to $115 million. The company, which focuses on disruptive blockchain and privacy hardware, plans to use the funding to expand its engineering and development teams. Chain Reaction aims to deploy enterprise-grade blockchain solutions and scale its privacy tech solutions for cloud data center infrastructure. The funding will also support the production of the companys first blockchain hardware chips and systems, expected to be available in Q1 2023. The funding round was led by Morgan Creek Digital, with participation from Hanaco Ventures, Jerusalem Venture Partners, KCK Capital, Exor, Atreides Management, and Blue Run Ventures.
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After the 7 billion dollars acquisition, the Israeli serial entrepreneur builds his next chip startup with Taiwan's semiconductor power
