Core Innovation Capital Backs Ripple Labs

Los Angeles-based venture investor Core Innovation Capital is backing payment protocol provider Ripple Labs, as part of a new $3.5M funding in Ripple. San Francisco-based Ripple Labs develops an open source, distributed payment protocol aimed at the global market, to help users send money in any kind of currency. The new funding came from Core Innovation Capital, Venture 51, Camp One Ventures, IDG Capital Partners, and angels. Core Innovation Capital recently relocated to Los Angeles to tap into the area's wealth of finance related startups. More information »