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Funding
t3rn raises USD 6.5 million in a strategic funding round
Web3 Ecosystem
Nov 25, 2022
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Web3 Ecosystem

Web3 Ecosystem

Nov 25, 2022

t3rn raises USD 6.5 million in a strategic funding round

Funding

  • t3rn, a German multichain protocol developer, raised USD 6.5 million in a strategic funding round led by Polychain Capital, with participation from other investors such as Blockchange, Lemniscap, D1 Ventures, Huobi Ventures, and Figment Capital.

  • The company’s total funding following this round stands at USD 7.9 million, and it aims to use the fresh capital to develop its blockchain interoperability technology.

  • Formed in 2020, t3rn allows for fail-safe smart contract interoperability through its SDK, which enables developers to compose multi-step transactions across different chains under a single call, replacing the need for blockchain bridges. 

  • In addition, the company has contributed to the development of the Polkadot ecosystem by participating in its Substrate Builders Program, which is the primary SDK used by developers to construct parachains.

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