The innovative browser that plans to replace online ads and trackers with micropayments has closed an investment round with leading venture capital firms. The 1.0 release to be launched in September 2016.

Digital Currency Group, Pantera Capital, Founders Fund, Foundation Capital and other venture capital companies have taken part in the seed round, according to bitcoin.com. With previous funding from private investors, the total amount of money raised by Brave is nearing $7 million.

The Brave browser features a built-in ad blocker while the company plans to introduce blockchain-based micropayments enabling users to pay for the Internet content they wish to see. BitGo and Coinbase are keen to equip Brave with wallets and all necessary tools. The new browser aims to increase connection speed and protect users’ privacy and safety from malware. According to Brendan Eich, President and CEO of Brave Software,

“Online advertisers have been exploiting user data for years without consent, sometimes even infecting devices with malware… Viewing content on the Internet should not come at the expense of one’s safety.”

The investors fully support the idea behind the new browser. Says Cyan Banister, Partner at Founders Fund:

“The amount of information that online advertisers are able to gather without consent is staggering. As more people become aware of these threats to their privacy, there will be huge demand for Brave’s technology.”

The developer version of Brave for desktop and mobile devices can already be downloaded. The 1.0 version is scheduled to be released in September 2016.

Alexey Tereshchenko