September 11, 2024
Hyperbridge is setting a new standard for secure, scalable, and verifiable cross-chain communication, launching with the highest economic security available. The Web3 Foundation, in collaboration with Scytale Digital, led the seed funding round for Hyperbridge, marking the Web3 Foundation’s first funding initiative and underscoring Hyperbridge’s vital role in the growing Web3 ecosystem.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Hyperbridge | $2.5M | September 11, 2024 | Seed Round | Web3 Foundation, Scytale Lead | Web3 |
Hyperbridge is quickly becoming a leader in blockchain interoperability, with its advanced cross-chain technology already in use by teams such as Succinct, Axelar, Union, and Avail. The protocol has secured a parachain slot within the Polkadot ecosystem, demonstrating its deep integration and commitment to utilizing Polkadot’s unique capabilities. Additionally, Hyperbridge’s crowd loan raised $2.7 million, making it the most successful parachain crowd loan in the Polkadot ecosystem, showcasing strong community support and technological potential.
About Hyperbridge
Hyperbridge is a protocol designed for secure and scalable cross-chain communication. It uses advanced cryptography and is secured by the Polkadot blockchain. This allows different blockchain networks to interact with each other seamlessly. Hyperbridge supports developers in building cross-chain applications and provides tools for sending and receiving data across various blockchains.
Website: https://hyperbridge.network/
About Investor
The Web3 Foundation, in collaboration with Scytale Digital, led the seed funding round.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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