THELOGICALINDIAN - Polychain Capital led the annular with Alameda Research and Cryptocom Capital additionally contributing
The champ of Polkadot’s third parachain auction, Astar Network, has aloft $22 actor in its latest cardinal allotment round. The activity will use the funds to advance interoperability amid Ethereum and Polkadot-native acute contracts.
Astar Network Secures Funds
Astar Network aloof landed a big investment.
The Polkadot parachain champ appear Friday that it had anchored $22 actor in a cardinal raise. Polychain Basic led the investment, with adolescent adventure basic firms Alameda Research, Alchemy Ventures, and Crypto.com Basic additionally contributing. Several notable angel investors additionally chipped in, including Polkadot architect Dr. Gavin Wood and Japanese able soccer amateur Keisuke Honda.
Today’s cardinal annular is the additional above accession for Astar Network. A antecedent accession in June 2024 brought in $10 actor from Fenbushi Capital, OKX Ventures, and Huobi Capital. As Astar Network is developed by Singapore-based Stake Technologies, best of its antecedent contributors accept been Asia-based firms. In a columnist release, Astar explained the latest cardinal annular was aimed at developing U.S. investors and cardinal partners, acceptance Astar to access its bounded reach.
Astar Network is the aboriginal multi-chain acute arrangement belvedere on Polkadot. The agreement allows Ethereum and Polkadot-native acute affairs to co-exist and acquaint with anniversary other, acknowledging Ethereum developers who appetite to body on Polkadot.
Astar additionally supports assorted bridges to added Layer 1 networks. Currently, Astar supports access to Celer Network and Nomad through the Multichain bridge, with a Cosmos arch planned to go alive in the aboriginal division of 2022. The funds from today’s accession will go against accelerating Astar’s eyes of an interoperable, multi-chain future.
After the aboriginal annular of Polkadot parachain auctions assured in December, parachain aperture winners accept started to barrage on the network. Moonbeam was the aboriginal to go live on Jan. 11, with Astar Arrangement abutting abaft on Jan. 17. As parachains on Polkadot alpha architecture out their platforms and products, absorption from institutional investors is acceptable to continue.
Disclosure: At the time of autograph this feature, the columnist endemic DOT, GLMR, and several added cryptocurrencies.
