ChainCatcher report, according to The Wall Street Journal, manufacturing startup SendCutSend has raised $1.1 billion in funding, led by Sequoia Capital, cryptocurrency venture fund Paradigm, and Stripe co-founders Patrick Collison and John Collison, valuing the company at $10 billion. Paradigm was originally a top-tier crypto-native venture capital firm managing approximately $12.7 billion in assets. However, since 2023, the firm has shifted its strategic focus: it has removed all references to “crypto” and “Web3” from its website, and co-founder Matt Huang publicly stated, “AI development is too fascinating to ignore.” In this context, investing in SendCutSend aligns with Paradigm’s broader strategy to expand into “AI + robotics + advanced manufacturing.”
SendCutSend, a manufacturing startup, raises $110 million in funding led by Paradigm
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Summary
Manufacturing startup SendCutSend has secured $110 million in project funding, led by Sequoia Capital, Paradigm, and Stripe co-founders Patrick and John Collison. The round values the company at $1 billion. Paradigm, a former leading crypto venture capital firm, has shifted its focus since 2023, removing “crypto” from its website and entering the fields of AI and crypto news, robotics, and advanced manufacturing.
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