Funds will be used for hiring industry-leading engineers to implement both EVM and WASM and to invest and nurture Astar native ecosystem projects.
Astar, a multichain DApp protocol formerly known as Plasm, has raised $22 million in its latest strategic fundraise.The funding round was led by Polychain and saw participation from the likes of Alameda Research, Crypto.com Capital, Digital Finance Group and a few other angel investors. Astar rose to popularity after gaining the Polkadot parachain slot last December and the protocol was officially launched on Jan. 17th.Astar is currently working to become the first protocol to support two virtual machines on its Polkadot parachain- The Ethereum Virtual Machine (EVM) and WebAssembly (WASM). While EVM is currently active, the platform would transition to WASM over time. The Astar team is working with Parity blockchain to push its WASM integration. Being a multichain protocol, Astar
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