Owlto Finance secures new funding at $150m valuation

Cross-chain interoperability protocol Owlto Finance has raised new funds in a spherical backed by Matrixport, boosting its valuation to $150 million.

Owlto Finance, a cross-chain bridging service developed as Ethereum’s layer-2 roll-up answer, has raised new capital in a funding spherical backed by Matrixport, boosting its valuation to $150 million.

Owlto Finance launched in 2023 and affords help for greater than 45 networks inside the Bitcoin, Ethereum, and Solana ecosystems. Whereas the dimensions of the funding was not disclosed, it’s believed that the proceeds will assist the startup increase its community help and advance a brand new interoperability protocol, which is able to use an “synthetic intelligence agent” to generate recommendations for cost-effective bridging paths. , in response to a press launch seen by crypto.information.

Owlto Finance can also be growing a modular interoperability protocol and an omnichain liquidity answer. It will permit sensible contracts to allow non-custodial cross-chain transactions with out having to deploy their very own multi-chain liquidity.

The protocol has acquired an AA ranking from blockchain auditor CertiK, making it among the many “highest-rated initiatives within the cross-chain bridge class.”

The funding follows Owlto Finance’s $8 million strategic funding spherical two months in the past, led by Bixin Ventures and CE Innovation Capital, with participation from Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma and SNZ Capital.