Portfolio company ChainSafe announces a $18.75M Series A

Series A funding will allow ChainSafe to further accelerate the development of web3 infrastructure.

ChainSafe has secured $18.75M in an oversubscribed Series A funding round. The investment was led by Round13 with participation from new investors NGC Ventures, HashKey Capital, Sfermion, Jsquare, and returning investors Digital Finance Group and Fenbushi Capital.

Subsequently, Khaled Verjee, Managing Partner of Round13’s Digital Asset Fund, is joining ChainSafe’s board of directors alongside current board member Joseph Lubin, co-founder of Ethereum and founder of ConsenSys Mesh — a long-time investor and supporter of ChainSafe.

See an excerpt from their announcement for more details:

"ChainSafe was launched in 2017 after its founding team came together at an Ethereum meetup in Toronto. A passion for open-source and decentralized technology gradually turned into a profitable web3 business, and five years later, ChainSafe has become one of the leading multi-chain research and development firms. As we look to the future, this investment will help us fuel the adoption and sustainable growth of the web3 ecosystem.

“We have been close to ChainSafe since the early days when decentralized protocols were defining themselves and coming into their own. No other organization has done a better job of establishing beachheads in important ecosystems and consistently making fundamental contributions. And no other organization has earned trust so broadly in the decentralized protocol world. ChainSafe and its people combine integrity and excellence as deeply as any company in our ecosystem. This raise enables ChainSafe to continue on its path of thoughtful and synergistic protocol and product development.” — Joe Lubin.

One of our flagship products is web3.unity, a software development kit (SDK) for connecting Unity games with the blockchain. Web3.unity is designed to reduce complexity and introduce a new level of ownership to gaming. With more than 100 teams building with web3.unity, the SDK is a catalyst for the rapidly growing blockchain gaming space, which is anticipated to reach US$2.8 billion by 2028.

In addition, ChainSafe’s cross-chain bridging technology has secured over $600 million in cross-chain token transfers, and this experience is being leveraged in a new cross-chain interoperability project where ChainSafe acts as the leading contributor."

For more, see here.