2 years ago
Axelar, a decentralized web connecting aggregate blockchains, has closed a $35 cardinal Series B backing circular astatine a $1 cardinal valuation.
Investors included Polychain Capital and Dragonfly Capital. The backing volition beryllium utilized to further the network’s phased mainent rollout.
The circular grew by $10 cardinal to $35 cardinal successful the last days earlier the circular closed, Axelar told CoinDesk successful an email. Dragonfly joined up during that time, but the further backing came from aggregate investors.
Other notable investors successful the circular included North Island Ventures, Rockaway Blockchain Fund, Cygni Capital, Lemniscap, Olive Tree Capital, Blockchange Ventures and Node Capital, among others.
Created by the founding squad down the Algorand blockchain, Axelar is gathering a web and tools intended to link users, assets and decentralized applications (dapps) crossed aggregate blockchains to unlock cross-chain composability and liquidity.
The phased mainnet motorboat started past month, and Axelar has started onboarding validators and wallet integrations. Other plans see the beta motorboat of Satellite, a dapp for transferring assets betwixt a fig of blockchains including Ethereum and Terra, and a bundle improvement kit (SDK) that lets developers physique dapps connected apical of the Axelar network.
Axelar has existing integrations with Polygon, Polkadot, Cosmos and Pangolin Exchange that person already gone live.
"While Web 3 continues to grow, connecting users and providing frictionless experiences crossed aggregate blockchains is critical. Axelar's interoperability stack is uniquely positioned to link blockchains and decentralized applications successful the ecosystem,” said Polychain Capital laminitis and CEO Olaf Carlson-Wee successful a property release.
Last summer, Axelar raised $25 million successful a Series A circular led by Polychain Capital.
CORRECTION (Feb. 15, 13:38 UTC): Corrected magnitude raised successful header and communicative to $35 million.
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