Estonian investment firm Taavet+Sten has participated in a funding round of crypto company Superfluid

Taavet+Sten, the investment firm of Wise’s co-founder Taavet Hinrikus and Teleport’s co-founder Sten Tamkivi, has participated in a €4,7M funding round for London-based crypto startup Superfluid. The round was led by UK-based Fabric Ventures.

Also participating in the deal were US-based Multicoin Capital and WAGMI Ventures, Hong Kong-based IOSG Ventures, Brazilian Circle Ventures, Safe Foundation, London-based Eterna Capital, Luxembourg-based Veris Ventures, Japan's Skyland Ventures and Hyperithm, as well as a number of business angels.

Founded in London in 2020 by Miao ZhiCheng, Francesco George Renzi, and Michele D'Aliess, Superfluid is developing a technology that enable real-time cryptocurrency transactions. Users can receive salaries or rewards from DAO or crypto businesses as a stream. They can also pay for their web3 subscription with ongoing streams instead of recurring transactions. In addition, the Superfluid platform allows developers and creators to automatically build new applications  with recurring transactions. 

According to Superfluid, the startup’s technology can make digital payments more efficient. Superfluid Protocol recently reached $150M in total transaction volume.

The company will use the investment to support Superfluid's growing developer ecosystem, expand the team, and launch Distribution Pools, which will give developers a tool to program one-to-many streams that can easily scale to up to millions of recipients in real-time. Distribution Pool streams can be used for dynamic revenue sharing, continuous token rewards, grant payouts and programmable airdrops.

Based in Tallinn, Taavet+Sten is an investment partnership between Taavet Hinrikus and Sten Tamkivi. It is an “evergreen” firm that is not backed by any LPs.