Brave Software has revealed that it was able to raise $4.5 million in its recent seed round investment from a number of leading venture capital firms as it works towards perfecting its bitcoin-based browser.
The new Brave browser is built to redefine users’ browsing experience by offering improved speed, privacy and bitcoin-based micropayment support.
Venture capital firms and angel investors that participated in the seed round include Propel Venture Partners, Digital Currency Group, and Pantera Capital. Founder Fund’s FF Angel and Foundation Capital were also among those who participated.
“Pantera is thrilled to be partnering with Brave to bring an enhanced user experience, privacy, and security to the browser,” said Dan Morehead, Pantera Capital chief executive. “Brave is bringing an innovative model where users and publishers can get paid in real-time micropayments using the Blockchain.”
The seed round brings total funding for Brave browser to date to $7 million, when earlier funding from private investors is added. The funds raised in this round will be devoted to further platform development and growth.
Robust ad-blocking browser
Brave is built to deliver browsing experience devoid of annoying ads. The open-source browser blocks upsetting ads and effectively deals with online trackers to offer speedy and safer web browsing. It has a native ad-blocker which sets it apart from some other browsers who rely on the use of an extension to block ads. This helps to ensure users’ computers and mobile devices are protected from malware while also speeding up page loading times and performance.
It is estimated that Brave can increase page load speed by between 40 and 60 percent on desktop and can give up to 4 times speed boost on mobile devices. Mobile users will also benefit from reduction in data and battery consumption with the browser.
Brave safeguards your sensitive information with HTTPS Everywhere which encrypts all data being transmitted. Security and privacy features also include malware filtering, fingerprint shields, script blocking, and phishing protection.
Can Banister, a partner at Founders Fund, thinks the bitcoin-based browser will be highly demanded as people become aware of the level of privacy it affords when browsing the web with it.
“The amount of information that online advertisers are able to gather without consent is staggering,” Banister said. “As more people become aware of these threats to their privacy, there will be huge demand for Brave’s technology.”
Bitcoin micropayment system
Brave Software has also announced that it would partner with Coinbase and BitGo to offer bitcoin wallets and purchasing tools for its new micropayment system, Brave Ledger. This bitcoin-based system will allow users to automatically and anonymously pay on their favorite websites. Users and publishers will also have the option of opting into a privacy-preserving ad model which allows them to have a share in ad revenues.
“With Brave, users can now fight back and keep their data private and defensible on their devices, while still supporting the content they wish to view via micropayments,” said Brave Software CEO Brendan Eich.
Brave (version 1.0) is expected to launch in September 2016, although the developer version is already available. It is compatible with Windows, Mac OS and Linux desktop operating systems. Android and iOS mobile device users can also run the browser.