Coinbase CEO's ResearchHub Startup Secures $5M In Funding

ResearchHub, a startup co-founded by COO Patrick Joyce and Coinbase Global Inc COIN CEO Brian Armstrong has raised $5 million in a seed funding round.

Led by Joseph Jacks from Open Source Software Capital, the funding round also saw participation from prominent investors such as Boost VC, RedHat's Bob Young, Vercel’s Guillermo Rauch, Replit's Amjad Masad and Y Combinator’s Garry Tan.

ResearchHub, in a blog post, stated that it aims to revolutionize the scientific community by creating a tokenized social network that rewards scientists for openly sharing scholarly content.

By leveraging blockchain technology, ResearchHub enables researchers to collaborate, share findings and receive feedback from peers through a suite of collaboration and publication tools.

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The platform has introduced ResearchCoin RSC/USD, a cryptocurrency that scientists earn as a reward for publishing valuable content.

With ResearchCoin, users can create bounties to incentivize other scientists to complete research-related tasks.

The ultimate goal is to establish an academic town square where significant contributions are acknowledged and rewarded in a fair and evidence-based manner.

The secured funding will empower ResearchHub to expand its platform globally, reaching more scientists worldwide. The company plans to invest in the development of new features and tools that enhance collaboration within the community and capture the value generated by its members.

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Photo: ResearchHub YouTube screenshot