Connext raises $2.2 million seed round from Huobi and Polychain Capital

The interoperability-focused blockchain project Connext has raised $2.2 million in seed funding.

Incredibly excited to announce our $2.2m seed round from @polychaincap, @1kxnetwork, and @HuobiGlobal! 💥

Multichain Ethereum is just getting started. Want to help us build it? We’re hiring 👉 https://t.co/TPVeprtWTP https://t.co/afBacC2JVy

— Connext (@ConnextNetwork) March 22, 2021

The funding round was led by venture firm Polychain Capital, with 1kx and Huobi Capital also participating. The funds will be used to secure the network’s initial liquidity reserve and expand the development team.

Connext is building a ‘cross-chain liquidity network’ that enables fast, non-custodial asset swaps using layer-2 solutions such as Optimism.

A full launch of the Connext network is expected in the next 3–6 months.

Including the latest round, Connext has raised more than $3.7 million. In 2017 the project received more than $1 million in funding, and in 2019 — $500,000 from ConsenSys Ventures.

For the most notable venture deals in recent weeks — read ForkLog’s overview.

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