Ethereum Connext Raises $ 2.2 Million From Huobi And Polychain Capital

Focused on blockchain interoperability, Connext has raised $ 2.2 million in seed funding.

Incredibly excited to announce our $ 2.2m seed round from @polychaincap , @ 1kxnetwork , and @HuobiGlobal !

Multichain Ethereum is just getting started. Want to help us build it? We’re hiring \ https://t.co/TPVeprtWTP https://t.co/afBacC2JVy

– Connext (@ConnextNetwork) March 22, 2021

The funding round was spearheaded by venture capital firm Polychain Capital, with 1kx and Huobi Capital also participating. The startup will use the raised funds to provide the primary reserve of liquidity for the network and expand the development team.

Connext creates a “cross-chain liquidity network” that supports fast and non-custodial asset exchanges using second-tier solutions like Optimism .

The full launch of the Connext network is expected in the next 3-6 months.

Taking into account the latest round of financing, the total amount of funds raised by Connext exceeds $ 3.7 million. In 2017, the project received more than $ 1 million in investments, in 2019 – $ 500,000 from Consensys Ventures.

For the most prominent venture capital deals of recent weeks, read the Hodlmonks review.

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