Axelar Raises $50 Million in Public Sale Financing on March 3, 2022

According to industry sources, Axelar completed a $50 million public sale financing round on March 3, 2022. Following this round, Axelar's cumulative total funding reached $143.75 million.Axelar is a decentralized cross-chain communication network focused on enhancing Web3 interoperability by connecting heterogeneous blockchains. The platform optimizes asset liquidity and programmability for developers and end users. Axelar’s architecture consists of two layers: the underlying network and the upper-layer API. Its core features a permissionless overlay network that delivers Turing-complete cross-chain communication through proof-of-stake and permissionless protocols.Tracing the project’s development, Axelar has demonstrated steady growth since 2020. The company began with a $3.75 million seed round in November 2020, followed by multiple funding rounds: a $25 million Series A in July 2021, a $35 million Series B in February 2022, and the latest public sale. Notably, in July 2023, Axelar entered into a partnership with Microsoft to jointly develop blockchain interoperability solutions, underscoring the project's technical strength and market recognition.Looking ahead, Axelar plans to launch its DAMA 2 multi-chain infrastructure product in November 2025, further advancing the cross-chain ecosystem. As demand for blockchain interoperability continues to grow, Axelar’s solutions are expected to play a significant role in driving the development of Web3 infrastructure.