The protocol was constructed upon LayerZero's architecture, which secured a staggering $120 million funding earlier this year, valuing the company at an impressive $3 billion.
The funding round attracted substantial investments from prominent entities, including Pantera Capital, Binance Labs, Coinbase Ventures, and Apollo Crypto.
Uniswap CEO Hayden Adams, OpenSea co-founder Alex Atallah, entrepreneur Balaji Srinivasan, and Polygon co-founder Sandeep Nailwal enthusiastically participated in the funding round as angel investors.
The Swiss non-profit organization is responsible for managing both the Anoma blockchain architecture and the layer 1 blockchain called Namada.
The startup provides enterprise clients like Macy's and Mattel with a secure non-custodial wallet infrastructure.
The startup provides convenient on- and off-ramps that facilitate the interaction of new users with Web3 projects.
The project additionally introduced its new PLEX client, designed to alleviate the demands of computationally intensive tasks involving scientific data.
Superscrypt spearheaded the extension of pre-seed funding, with Polygon already onboard as an investor.
C Squared Ventures and Goat Capital, the firm co-founded by Twitch founder Justin Kan, were at the forefront of leading the fundraising efforts.
The Series B funding round was secured approximately five months after the company downsized its workforce by 15% due to the challenges posed by the extended bear market in the crypto industry.