Blockchain startup Router Protocol raises $4.1 million led by Coinbase Ventures & others
Coinbase Ventures, Woodstock Fund, QCP Capital, and Alameda Research have invested $4.1 million in Router Protocol, a blockchain infrastructure initiative that permits interoperability between two distinct blockchains.
Polygon cofounder Sandeep Nailwal, DoorDash Inc.'s Gokul Rajaram, and Aave's Ajit Tripathi were among the angel investors that took part in the funding.
Coinbase Ventures, the investment arm of Coinbase Inc., a publicly traded cryptocurrency exchange in the United States, has sponsored two cryptocurrency unicorns in India this year.
Ramani Ramachandran, Shubham Singh, Chandan Choudhury, and Priyeshu Garg founded Router Protocol in 2020 with the goal of making cross-chain trading, lending, and swapping more efficient and cost effective. The company, which is based in Singapore, has a development team of 20 people, the majority of whom are based in India.
The funding will be used to recruit more developers and execute security checks by the startup. Polygon, Avalanche, Terra, and Algorand are among the protocols with which it has established relationships, and it aims to launch its mainnet in the coming weeks.
“We are excited to have this dream team of investor partners,” CEO Ramachandran said. “Beyond just capital, all of these investors have been deeply involved—hands-on—in the design and development of Router as well as DFYN, as we look to build critical, scalable cross-blockchain infrastructure that is the need of the hour.”
Dfyn is a decentralised exchange created by the same people who created the Router Protocol.
Every transaction will generate money for Router, which will have both retail and institutional clients. Institutional clients would be able to use Router's software development kit to hook in to Router and enable cross-chain messaging and communication on any decentralised apps that require any cross-chain capacity.
“Getting blockchains to communicate effectively with each other is the holy grail for DeFi going forward, and we are happy to work with the team behind Router & Dfyn and support their unique approach to solving this problem,” QCP Capital’s managing partner Darius Sit said.
Amid a market bull run and innovation in this field led by successful ventures like as Polygon and Instadapp, both Indian and international financiers are making a beeline for blockchain and crypto businesses started by Indians.
Polygon cofounder Sandeep Nailwal, DoorDash Inc.'s Gokul Rajaram, and Aave's Ajit Tripathi were among the angel investors that took part in the funding.
Coinbase Ventures, the investment arm of Coinbase Inc., a publicly traded cryptocurrency exchange in the United States, has sponsored two cryptocurrency unicorns in India this year.
Ramani Ramachandran, Shubham Singh, Chandan Choudhury, and Priyeshu Garg founded Router Protocol in 2020 with the goal of making cross-chain trading, lending, and swapping more efficient and cost effective. The company, which is based in Singapore, has a development team of 20 people, the majority of whom are based in India.
The funding will be used to recruit more developers and execute security checks by the startup. Polygon, Avalanche, Terra, and Algorand are among the protocols with which it has established relationships, and it aims to launch its mainnet in the coming weeks.
“We are excited to have this dream team of investor partners,” CEO Ramachandran said. “Beyond just capital, all of these investors have been deeply involved—hands-on—in the design and development of Router as well as DFYN, as we look to build critical, scalable cross-blockchain infrastructure that is the need of the hour.”
Dfyn is a decentralised exchange created by the same people who created the Router Protocol.
Every transaction will generate money for Router, which will have both retail and institutional clients. Institutional clients would be able to use Router's software development kit to hook in to Router and enable cross-chain messaging and communication on any decentralised apps that require any cross-chain capacity.
“Getting blockchains to communicate effectively with each other is the holy grail for DeFi going forward, and we are happy to work with the team behind Router & Dfyn and support their unique approach to solving this problem,” QCP Capital’s managing partner Darius Sit said.
Amid a market bull run and innovation in this field led by successful ventures like as Polygon and Instadapp, both Indian and international financiers are making a beeline for blockchain and crypto businesses started by Indians.
.jpg "Aquapulse : Pioneering Global Leadership in Seafood Exports Through Market Intelligence & Post Harvest Innovation")
.jpg "10 Dimensions Design : Pioneering Technology Integration in the Construction Industry")
