Arx Research completes $6.1 million seed round financing, led by Castle Island Ventures
BlockBeats News, November 6, hardware and software company Arx Research announced the completion of a $6.1 million seed round, led by Castle Island Ventures, with participation from Inflection, Placeholder, Seed Club Ventures, and 1kx. Cameron Robertson, co-founder and CEO of Arx Research, stated that this round of financing adopted the SAFE (Simple Agreement for Future Equity) structure, but did not disclose the timing of the financing or the post-investment valuation.
The funds from this round will be used to launch the "Burner Terminal," a handheld point-of-sale device that integrates digital assets with traditional payments. The terminal can simultaneously accept stablecoins, contactless payments (such as NFC), and chip+PIN cards, and has obtained EMV certification to ensure it meets international standards for security, compliance, and compatibility with existing payment systems.
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