Fedi Raises $17 Million to Launch Alpha Version of Federated Operating System

Nigerian crypto startup Fedi has secured $17 million in series A funding to enable communities to step up the adoption of Bitcoin, as the company revealed plans to launch an alpha version of Fedi for builders later in May 2023.

The funding round was led by Ego Death Capital, with participation from TBD, part of Block, Kingsway, Trammell Venture Partners, and Timechain. This brings the total amount raised by Fedi to $21.21 million.

Fedi’s CEO and Co-Founder Obi Nwosu disclosed that the company seeks to empower communities by accelerating the adoption of technologies like Bitcoin and Lightning, and rolling out Fedimint federations to communities and companies worldwide is how it intends to do it.

Speaking on the recent funds raised, he said,

“We are excited that with so much interest in this round, we were able to select investors who are fully aligned on the future we are trying to create with Fedi, the world’s first federated operating system. We are still finalizing details for Fedi Alpha, but we will have a pre-launch for builders or pioneers to create their federations or to play with a test federation inside of the product. We anticipate a high level of interest, and we are super excited to see what the developer community will create”.

Fedi aims to be the first federated operating system and also empowers people to collaborate within their communities to take control of their money, their data, and their digital lives while protecting user privacy and autonomy.

Right now, as individuals use different services to make digital payments, a cloud to access and back up data, or an encrypted chat app to communicate securely with friends, family, and coworkers, Fedi is creating a single piece of technology that wants to enable individuals to do all of these things all in one app.

Instead of being controlled by far-off third parties who act as gatekeepers to their digital life, by signing up on the Fendi platform, the company assures individuals that all of these are controlled by the people they already know and trust. Because Fedi is built on the open-source Fedimint protocol, it makes it easy for developers to build additional apps and modules to complement Fedi’s offerings and give more options to users.

Fedi wants to help build a future where communities hold the power, and where they can collaborate with the people, they trust for the betterment of each other and the whole of humanity.

The company describes the platform as a family, village, club, or business collaborating to operate a digital wallet app, a cloud, and a social media platform for everyone’s benefit. The company’s mission is to empower communities everywhere with freedom technologies like Bitcoin & Fedimint.