Cosmos-based Neutron blockchain raises $10 million

Neutron — blockchain project in the Cosmos ecosystem — closed a seed round of $10 million led by Binance Labs and CoinFund.

Among other investors: Delphi Ventures, LongHash, Semantic Ventures and Nomad.

Neutron offers “an economical and secure environment” for building smart contracts and decentralized applications. The project’s infrastructure and tooling are built on Cosmos SDK and CosmWasm technologies, providing compatibility with 51 appchains in the ecosystem.

“Neutron was created to address three main problems facing smart contract developers in Cosmos: lack of security, lack of reliable neutrality, and access to cross-chain infrastructure,” said Avril Duteil, one of the platform’s co-founders.

The project started in May and became the first Cosmos blockchain launched using Replicated Security. This feature enables so-called “consumer chains” to connect to Cosmos Hub validators for the secure deployment of applications.

According to the team, the funds raised will be directed to support the expansion of the Neutron ecosystem and stimulate the development of new dapps.

As previously reported, the interoperability-focused blockchain project Connext raised $7.5 million at a $250 million valuation.

In June, Binance venture arm announced investments in five startups — Bracket Labs, DappOS, Kryptoskatt, Mind Network and zkPass.