Axelar Secures $3.75 Million in Seed Funding on November 13, 2020

According to industry sources, Axelar raised $3.75 million in seed funding on November 13, 2020. Investors in this round included YZi Labs, Lemniscap, Divergence Ventures, DCVC, Naval Ravikant, and Waikit Lau. Following this financing, Axelar's total funding reached $143.75 million, with its latest valuation at $28 million.Axelar is a decentralized cross-chain communication network focused on enhancing Web3 interoperability by connecting heterogeneous blockchains and optimizing asset liquidity and composability. The project utilizes a two-layer architecture: an underlying network and an upper-layer API. At its core is a permissionless overlay network that delivers Turing-complete cross-chain communication through proof-of-stake and permissionless protocols.Axelar has demonstrated steady growth in its funding trajectory. After the seed round, the project completed a $25 million Series A, a $35 million Series B, and a $50 million public sale. Notably, in July 2023, Axelar entered into a partnership with technology giant Microsoft to co-develop blockchain interoperability solutions, underscoring its technical capabilities and market recognition. Looking ahead, Axelar plans to launch the DAMA 2 multi-chain infrastructure product in 2025, further expanding its influence in cross-chain communication.As the blockchain ecosystem continues to evolve, demand for cross-chain interoperability is on the rise. As a key innovator in this space, Axelar's technical solutions and strategic development are poised to play a significant role in advancing large-scale adoption of blockchain technology.