Arx Research completes $6.1 million seed round led by Castle Island Ventures

Foresight News: According to The Block, hardware and software company Arx Research has completed a $6.1 million seed round led by Castle Island Ventures, with participation from Inflection, Placeholder, Seed Club Ventures, and 1kx.

Cameron Robertson, co-founder and CEO of Arx Research, stated that this round of financing used a Simple Agreement for Future Equity (SAFE) structure, but declined to disclose the timing of the financing or the post-money valuation. The funds will be used to launch a handheld point-of-sale device called the “Burner Terminal,” which accepts stablecoins, contactless payment cards, and chip-and-PIN cards, and has received EMV certification to ensure its security, compliance, and compatibility with existing payment systems. The device also integrates the digital payment network Flexa, providing merchants with optional support for Bitcoin, Ethereum, Solana, and other crypto assets as well as stablecoins. The Burner Terminal will first be launched in the United States, and after obtaining certification, is expected to expand to the European Union and Latin American markets. The device is scheduled to debut this month and will be fully available in early 2026.