Cross-chain interoperability protocol Owlto Finance has raised new funds in a spherical backed by Matrixport, propelling its valuation to $150 million.
Owlto Finance, a cross-chain bridging service developed as Ethereum‘s layer-2 roll-up resolution, has attracted recent capital in a funding spherical backed by Matrixport, boosting its valuation to $150 million.
Launched in 2023, Owlto Finance boasts assist for greater than 45+ networks inside the Bitcoin, Ethereum, and Solana ecosystems. Though the scale of the funding wasn’t disclosed, it’s understood that the proceeds will assist the startup develop its community assist in addition to advance a brand new interoperability protocol, which is able to leverage “synthetic intelligence agent” to generate recommendations for cost-effective bridging paths, in accordance with a press launch seen by crypto.information.
Owlto Finance can be creating a modular interoperability protocol and an omnichain liquidity resolution. This can allow sensible contracts to facilitate non-custodial cross-chain transactions with no need to deploy their very own multi-chain liquidity.
The protocol has achieved an AA ranking from blockchain auditor CertiK, inserting it among the many “highest-rated initiatives within the cross-chain bridge class.”
The funding follows Owlto Finance’s $8 million strategic funding spherical two months in the past, led by Bixin Ventures and CE Innovation Capital, with participation from Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma, and SNZ Capital.
Learn extra: Chainge receives $13m funding to reinforce cross-chain buying and selling