Decentralized Identity Startup Spruce Raises $7.5M

Posted on by American Coins & Gold

Decentralized Identity Startup Spruce Raises .5M
Decentralized finance (DeFi) and non-fungible tokens (NFTs) have given decentralized identity a solid commercial use case that was previously lacking.So say the founders of Spruce, an identity startup that just raised $7.5 million in a funding round led by Ethereal Ventures and Electric Capital.The seed round, announced Tuesday, also included participation by Alameda Research, Coinbase Ventures, BITKRAFT, A. Capital Ventures, Protocol Labs and Gemini Frontier Fund.The founders of Y Combinator-backed Spruce, Wayne Chang and Gregory Rocco, met at ConsenSys where they were working on economics and decentralized identity, and the team has clearly remained close to the Ethereum design studio.“In…