crypto News ChainSafe raised $18.8 million to develop multichain solutions

ChainSafe raised $18.8 million to develop multichain solutions

ChainSafe has raised $18.8 million to develop multichain solutions

Infrastructure firm ChainSafe has raised $18.8 million “Keep calm and in a Series A funding round led by Canadian venture capital firm Round13. The Block reports.

Other investors include ConsenSys, HashKey Capital, NGC Ventures and Digital Finance. The funds raised will be used to further develop the platform.

ChainSafe was created in 2017. The company employs 120 people from 33 countries.

Initially focused on Ethereum, the firm eventually switched to a multichain concept, focusing on creating tools for developers.

One of ChainSafe’s projects is Web3.unity. It is an SDK to connect Unity games to blockchain solutions and crosschain bridges. Its other product is the Ethereum client Lodestar.

In 2021, ChainSafe created a crosschain bridge between Avalanche and Ethereum to move the assets of DeFi projects of the two ecosystems.

According to The Block Research, the industry average amount raised in Series A rounds is $22.8 million.

Recall that in June, multichain project THORChain launched a mainnet.

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