Ethereum project Connext raises $12 million from ConsenSys-backed Mesh and 1kx

The blockchain interoperability-focused project Connext has raised $12 million from 1kx and Mesh, the ConsenSys-backed firm.

Today, we’re thrilled to announce that we’ve raised a $12m ecosystem round from 82(!) leading stakeholders in the space.https://t.co/EnI9TB77ov

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— Connext | We’re Hiring! (@ConnextNetwork) July 13, 2021

The funding was provided by 82 investors. Among them: Coinbase Ventures, OkEx Ventures, eGirl Capital, Hashed, as well as various angel investors, including Andre Cronje of yEarn.Finance and Sandeep Nailwal from Polygon.

The funds will be used by the startup to expand the team, further develop the Connext ecosystem through the grant program, and scale the network.

“We will work on integrating with all layer-2 projects, as well as with other Ethereum-compatible networks”, — said in an interview with The Block, the project’s CEO Arjun Bhupatani.

To scale, Connext will increase the number of “routers” or liquidity providers.

“We are onboarding the ten leading staking providers. We are also attracting a group of investors who intend to become liquidity providers. The same role is ready to be taken on by about 200 technical specialists who submitted applications”, — Bhupatani commented.

According to project representatives, Connext has attracted 40,000 unique users, and the volume of completed deals has reached $40 million.

Earlier in March, the creators of the solution attracted $2.2 million in seed funding.

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