2024

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Cosmos

<p class="is-style-lead">Today, Polymer Labs secured $23 million in funding for its Series A round to help develop a modular layer 2 network.&nbsp;</p> 
<p>The layer 2 network utilizes the Cosmos SDK’s Inter-Blockchain Communication (IBC) protocol, OP stack’s settlement features, and Eigenlayer’s data availability layer. Founders Bo Du and Peter Kim, who have been involved in the <a href="https://crypto.news/agora-group-to-host-13th-global-blockchain-congress-in-dubai/">blockchain</a> industry, shifted their focus to this project in the summer of 2021, aiming to improve blockchain interoperability.</p> 
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   <p lang="en" dir="ltr">We've co-led the Series A of <a href="https://twitter.com/Polymer_Labs?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Polymer_Labs</a>!<br><br>Polymer is establishing the next generation of the internet by scaling IBC interoperability to all blockchains.<br><br>More on our thesis by <a href="https://twitter.com/yuan_han_li?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@yuan_han_li</a> and <a href="https://twitter.com/h_joshua_rivera?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@h_joshua_rivera</a>. ↓<a href="https://t.co/82S4PovTTV" target="_blank">https://t.co/82S4PovTTV</a></p>— Blockchain Capital (@blockchaincap) <a href="https://twitter.com/blockchaincap/status/1749828421226783053?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 23, 2024</a>
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<p>Originally, Polymer Labs aimed to develop an entirely new interoperability protocol similar to several general message-passing protocols already in existence. However, their research and development led them to the Cosmos SDK’s IBC protocol, a discovery that pivoted their project’s direction. The IBC protocol is a crucial element in the Cosmos ecosystem, designed to enable secure and efficient data transfer between distinct blockchain networks.</p> 
<p>The funding round was <a href="https://twitter.com/blockchaincap/status/1749828421226783053" target="_blank" rel="noopener">co-led</a> by notable industry players Blockchain Capital, Maven 11, and Distributed Global. This round also witnessed contributions from a consortium of influential investors, including Coinbase Ventures, Placeholder, Digital Currency Group, North Island Ventures, and Figment Capital. Previously, in 2022, Polymar Labs closed its seed round with $3.6 million in funding.&nbsp;</p> 
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Polymer Labs raises $23m for blockchain interoperability network

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