Lightning startup Acinq raised $1.7 million

Paris based startup Acinq, one of the three companies working on a Bitcoin Lightning Network implementation, has closed a $1.7 million funding round led by Serena Capital, with participation from Talend co-founder Bertrand Diard, Sebastien Lucas, Alistair Milne and Snapcar founder Yves Weisselberger.

Acinq is mainly known for building Eclair, a Lightning daemon implementation that competes with LND from Lightning Labs and C-Lightning from Blockstream. They also develop an end-user mobile and desktop wallet, called Eclair Wallet, which is one of the most popular wallets to date. Finally, they also offer a commercial payment service called Strike, which allows store owners to accept Lightning payments in their online shops.

Up to date, this work has all been done by a small team of only three people. Acinq co-founder and CEO Pierre-Marie Padiou said:

“With this raise, we’re very excited to be able to do a lot more with more resources. We’ll be able to make even more cool services for lightning. This is not only good for us but for lightning in general and for pushing adoption forward.”

With the funds, Acinq also plans to hire three to four “highly technical” developers over the coming weeks and months. They also plan to work with other developers on standards for lightning. Padiou believes that Acinq needs to focus on ease of use and user experience:

“We have a huge focus on the users. We were the first to put out a mobile application because we think it’s vital to have normal users use lightning, to see what they would be able to do in the real world. If we had to choose between new features and UX, we would always put the priority on UX,

Exciting times for Lightning are ahead, that’s for sure.