Axelar, the decentralized interoperability network that connects blockchain ecosystems, applications, and users, has raised $25m in its Series A funding, led by Polychain Capital. The funds will go towards scaling key network integrations and engineering resources for the team&39s rapid expansion.
In addition to Polychain Capital, notable investors in the funding round include Dragonfly Capital Galaxy Digital North Island Ventures Robot Ventures Collab+Currency Cygni Capital Lemniscap Divergence Ventures SCB 10X Hypersphere Zola Global Investors Nima Capital and GoldenCoin TS LLC. Angel investors participating in Series A are Do Kwon, co-founder of Terra Happy Walters, co-founder, and CEO of Catalyst Sports & Media Waikit Lau, founder and CEO of RemoteHQ, and others.
Axelar protocol is powered by a decentralized network and designed explicitly to frictionlessly connect all blockchain ecosystems that speak different languages. Olaf Carlson-Wee Founder & CEO of Polychain Capital said: "Axelar&39s cross-chain solution is truly groundbreaking for the decentralized economy. We are very excited to help support Axelar&39s pioneering blockchain interoperability solutions in leading its investment round. Together, with our shared resources we are looking forward to working with Sergey and Georgios, and the wider Axelar team, in shaping the decentralized economy and blockchain industry for years to come."