ChainSafe, a Toronto, Canada-based blockchain infrastructure company, raised US$18.75M in Series A funding.
The round was led by Round13 with participation from NGC Ventures, HashKey Capital, Sfermion, Jsquare, Digital Finance Group, and Fenbushi Capital. Concurrent with the funding round, Khaled Verjee, Managing Partner of Round13’s Digital Asset Fund, is joining ChainSafe’s board of directors alongside founding members and current board member Joseph Lubin, co-founder of Ethereum and founder of ConsenSys Mesh – a long time investor and supporter of ChainSafe.
The company intends to use the funds to enhance its support for the adoption and sustainable growth of the web3 ecosystem.
Led by CEO Aidan Hyman, ChainSafe is a web3 infrastructure firm specializing in protocol implementations and cryptographic technologies. One of the company’s flagship products is web3.unity, a software development kit (SDK) for connecting Unity games with blockchain technologies. Web3.unity is designed to reduce complexity and introduce a new level of ownership to gaming. Currently in production with more than 100 teams, 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 solutions have connected major blockchains together including Ethereum, Polygon, and Avalanche, and in turn secured over $600 million in cross-chain token transfers. Designed and released by ChainSafe, these bridges are being used in a new cross-chain interoperability project for which ChainSafe is the leading contributor.
Headquartered in Toronto with offices in Berlin and Zagreb, ChainSafe operates globally and has more than 120 employees across 33 countries. The company was launched in 2017 after its founding team came together at an Ethereum meetup in Toronto. Together, they turned a passion for open-source and decentralized technology into a sustainable web3 business.
FinSMEs
18/10/2022