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Merit Systems raises 10 million USD in round co-led by a16z Crypto and Blockchain Capital

Merit Systems successfully raised 10 million USD in a seed funding round. This round was co-led by Andreessen Horowitz’s crypto fund and Blockchain Capital, reflecting strong investor confidence in the startup’s vision.

The startup is developing an attribution protocol designed to track contributions and adequately reward collaborators based on the value they add. This protocol aims to provide a more sustainable economic model for open-source software development.

The founders, including experienced professionals from Blockchain Capital and Andreessen Horowitz, emphasized the importance of their system for economic sustainability in the open-source sphere. Following the funding round, the valuation of Merit Systems stands at 55.5 million USD.

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