Octopus Network, a Tokyo, Japan-based multi-chain cryptonetwork for bootstrapping and running appchains, raised $5M in Series A funding.
The round was led by Continue, Youbi, DCG, GFS Ventures, Vestigium, Autonomy Capital, LCG Ventures, Bluehelix, Finance Ventures, Jubi Lab, GTA Venture, Gains Associates, Aussie Capital, K300 Venture, Mayor Capital, NetZero Capital, ELEVATE, Chainridge, Megala Ventures, VIC Group, Jigsaw, OIG Ventures, Bigcoin Capital, Meridian Capital, Westorm, Move Capital and Gate.io with participation from Debio, Myriad Social, and Discovol.
The company intends to use the funds to accelerate growth and expand operations.
Led by Louis Liu, Founder, Octopus Network provides a multi-chain cryptonetwork for bootstrapping and running Web3.0 application-specific blockchains and aka appchains. The company plans to launch its mainnet in September, and its first appchain, DeBio, a decentralised biomed network, in October. The Octopus Foundation will directly fund 20 appchain projects through the Octopus Accelerator Program each year, granting them up to $1M in total per year. The Octopus Accelerator Program is a collection of open and composable courses and seminars available to both Substrate developers and Web3.0 teams worldwide.