ChainSafe raises $18.8 million to develop multi-chain solutions

The infrastructure company ChainSafe raised $18.8 million in a Series A funding round led by Canadian venture firm Round13. The Block reports.

Among other investors: ConsenSys, HashKey Capital, NGC Ventures and Digital Finance. The funds will be used to further develop the platform.

ChainSafe was founded in 2017. The company employs 120 people from 33 countries.

Originally Ethereum-focused, the company has since shifted to a multi-chain concept, focusing on building developer tools.

One of ChainSafe’s projects is Web3.unity. It is an SDK for connecting games built on the Unity engine to blockchain solutions and cross-chain bridges. The company’s other product is the Ethereum client Lodestar.

In 2021, ChainSafe created a cross-chain bridge between Avalanche and Ethereum to move DeFi project assets between the two ecosystems.

According to The Block Research, the industry average for Series A rounds is $22.8 million.

In June, the multi-chain project THORChain launched its mainnet.

Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.