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OpenCoin Wins Investment from Google Ventures, IDG Capital Partners


For the second time in as many months, open source payment network innovator, OpenCoin is closing another round of funding. This time the company has earned investment from Google Ventures and China-based IDG Capital Partners.

The total amount of the angel funding round has not been disclosed, though Google Ventures is rumored to have contributed less than $200,000.

The announcement comes one month after the company reported funding from a quintet of investors: Andreessen Horowitz, FF Angel IV, Lightspeed Venture Partners, Vast Ventures, and Bitcoin Opportunity Fund. OpenCoin’s technology, Ripple, is a decentralized, virtual currency convertible into dollars, euros, yen, or Bitcoin.
OpenCoin’s CEO is Chris Larsen. The company presented its Ripple technology as part of FinovateSpring this month in San Francisco. Read our live coverage of their demo here.