A VC firm, Block26 announced making an investment in Airbitz Inc. and is now the lead investor in the seed round of $1,250,000.

Block26 now joins the board of Airbitz directors. The co-founders, Ni'coel Stark and Pedram Hasid made their first investment in Airbitz citing the start-up's contribution to the Internet of things and financial security.

“Block26 is making its first investment in Airbitz because not only is it the best digital wallet for consumers, it is far more than a wallet,” Stark stated.

Block26, a Los-Angeles VC firm that sees its mission in financing the future of the blockchain technology was founded in June 2015. This is the company's first big announcement. Block26 calls itself “creative investor” and seeks to provide global network of experts to help blockchain start-ups.

“Block26 is more than an investor to Airbitz; they are an integral partner in our rapid development. We look forward to closely working with Block26 as partners in building a company that thrives as it grows. Block26's unique financial model allows for a flexible investment strategy that could provide Airbitz and other portfolio companies with early stage capital, with the capacity to provide bridge funding as well. For these reasons and many more, we greatly look forward to Block26 joining our Board,” Airbitz COO Rick "Henri" Chan added.

AirBitz launched their bitcoin wallet in October 2014. Their first investors were Paul Puey, who is also the start-up founder, Scott Morgan, the co-founder, and Kevin Sullivan, a computer science specialist. CoinFox wrote earlier about Airbitz Android mobile app that enables wireless payments using a Bluetooth Low Energy (BLE) connection.

Aliona Chapel