Polychain-Backed Axelar Raises $25 Million in Series A Funding

Axelar, a firm that enables the transfer of assets across different blockchains, raised $25 million.

The Series A funding round, led by Olaf Carlson-Wee’s Polychain Capital LLC, will go toward scaling the network’s key integrations and providing more engineering resources expansion, according to a statement from the company. Other investors include Dragonfly Capital, Galaxy Digital, North Island Ventures and Robot Ventures.