The platform’s one-billion-dollar valuation affirms the burgeoning demand for decentralized cross-chain service providers in the blockchain industry.
The Axelar Network has announced the completion of a $35 million Series B funding round, pushing its market value above $1 billion. Participants of the round include Dragonfly Capital, Polychain Capital and North Island Ventures, among others.The raise succeeds a previously undisclosed round led by the head of Crypto.com Capital, Bobby Bao in late-November 2021, a nine-investor $25 million Series A raise led by Polychain Capital, and participated by Mike Novogratz’s Galaxy Digital in mid-July 2021, in addition to two seed rounds across the year of 2020.Founded in early 2020 by inaugural team members at Algorand and esteemed MIT graduates, Axelar is an infrastructure protocol that fosters interoperable connectivity between blockchain platforms, decentralized applications (DAp
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