Shrapnel just raised $19.5M
Closed access in China planned in late 2025, and targeted global open access in early 2026.
Here’s everything that happened ⤵️
> In Nov 2021, Neon Machine raised a $10.5M seed.
> In Oct 2023, it closed a $20M Series A led by Polychain with GGP and others.
> In late 2023, the founders sued the controlling shareholder over an alleged takeover attempt.
> In Dec 2024, Ken Rosman became CEO and Mark Long moved to an advisor role.
> In Feb 2025, the company said the investor dispute was settled.
> In H1 2025, multiple reports flagged layoffs, cash strain, and slowed development.
> On Jul 30, 2025, Shrapnel announced a migration from Avalanche to GalaChain with a path through China’s Trusted Copyright Chain and a public bridge targeted for Q1 2026.
Thoughts?

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