Airbitz Raises $450K From New LA Investor, Block26

San Diego-based Airbitz, a developer of Bitcoin-based mobile wallet software, has raised $450,000 in a funding round, part of an ongoing $1.25M round for the company, the company announced recently. The funding came from Block26, a new, Los Angeles-based venture capital investor focused on digital currency. Block26 is led by Ni'coel Stark and Pedram Hasid, and says it is focused specifically on investing in Bitcoin startups. The Airbitz investment is the first investment by Block26. Airbitz is led by Paul Puey.