Benzinga - Messaging protocol Wormhole announced on Monday a raise of $225 million, reaching a valuation of $2.5 billion.
This funding round saw participation from major investors such as Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading and others.
Messaging protocol Wormhole announced on Monday a raise of $225 million, reaching a valuation of $2.5 billion.
This funding round saw participation from major investors such as Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading and others.
Robinson Burkey, chief commercial officer of the Wormhole Foundation, told Benzinga the funding will help Wormhole bring new and groundbreaking products to market as we head into next year.
"It will help support our ecosystem of developers while allowing Wormhole to scale its team, onboard institutions to Web3, and continue investing in industry-leading security practices," he said.
Burkey emphasized its focus on solving real-world problems for customers and end-users in the Web3 space, as well as highlighted recruitment efforts for those aligned with this mission.
The Wormhole Foundation also announced the establishment of Wormhole Labs. This independent technology company will act as a core contributor to Wormhole.
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Wormhole Labs aims to specialize in developing products, tools, and reference implementations that foster cross-chain activity and development.
Saeed Badreg, co-founder and CEO of Wormhole Labs reflected on the company's journey since its inception nearly three years ago.
He reiterated its commitment to a vision where blockchain expansion is an enduring transformation, involving major companies onboarding both public and private blockchains.
Badreg stated the launch of Wormhole Labs is a step forward in advancing the technology for efficient blockchain-to-blockchain communication.
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