Axelar launches $60 million startup funding program

The Axelar network, the cross-chain interoperability project, has launched a $60 million startup funding program. The initiative is backed by more than 10 investors.

🤯 We Just Launched a $60M Ecosystem Startup Funding Program 🤯@seiff, @schmults, @chorusone, @Collab_Currency, @cygnicapital, @dao5, @DCVC, @dragonfly_xyz, @Lemniscap, @Morningstar_vc, @NimaCapital, @NorthIslandVC, @Node_Capital, @Rockaway_X, @SCB10X_OFFICIAL

🧵👇 pic.twitter.com/TM7p4yoDfe

— Axelar Network (@axelarcore) December 19, 2022

The Axelar Ecosystem Startup Funding Program is intended for developers Web3-products that can compete with centralized projects. Among other requirements, applicants for funding must protect digital sovereignty, security and privacy.

“The Axelar Ecosystem Startup Funding Program will connect investors who share this vision with a stream of new developers building cross-chain decentralized applications that use Axelar as their infrastructure,” the startup’s representatives said.

Investors backing the initiative include Blockchange, Dragonfly Capital, Divergence Ventures, and others.

Axelar was among the first projects to back the crypto venture fund founded in 2021 by billionaire Paul Tudor Jones and rapper LL Cool J.

In February 2022, the startup closed a Series B round worth $35 млн at a valuation of $1 млрд.

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