The team behind the cross‑chain bridge Nomad has closed a $22 million seed round at a $225 million valuation. It was led by Polychain Capital.
gm! We’re excited to announce that we’ve closed our $22M seed round led by @polychain, and with participation from @1kxnetwork, @etherealvc, @hack_vc, and many other amazing funds and angels!https://t.co/rKmJaRDJhC pic.twitter.com/3y7998lwGx
— Nomad (@nomadxyz_) April 12, 2022
Funding was also provided by 1kx, Ethereal, Hack VC, Circle Ventures, Amber, Archetype, Lattice, A&T Capital, Hypersphere, Dialectic, Breyer Capital, Figment, LedgerPrime, Robot Ventures, Continue Capital, Wave Financial, Open Web Collective and other venture funds and angel investors.
The proceeds will be used to add support for new networks, pursue marketing goals, strengthen the team, and gradually move toward decentralisation.
Nomad currently operates on Ethereum, Moonbeam, and Milkomeda.
The protocol uses fraud proofs, as in Optimistic Rollup. This has enabled a cross‑chain bridge with a lower trust level, easily deployed across ecosystems. The technology eliminates the need for multisignatures, validators, and oracles.
2/ Optimistic bridges usher in a new paradigm for cross-chain communications. No need to rely on multisigs, oracles, or validators to verify cross-chain messages. Our friends at @connextnetwork wrote more about this here: https://t.co/HHtV2iwJQU
— Nomad (@nomadxyz_) April 12, 2022
Nomad is compatible with zkSync 2.0. In February 2022, the Matter Labs team deployed the first EVM-compatible second‑level solution based on ZK-Rollup technology on the Ethereum testnet.
Earlier, CertiK, a startup focused on the security audit of smart contracts, forecast growth in the number of new attacker incidents, primarily related to cross‑chain bridges and instant loans.
Since the start of 2022, the figure has reached $1.22 billion as a result of incidents with Ronin Network, Wormhole, Qubit Finance and Meter.
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