Composable Finance Raises $32 Million in Series A

Composable Finance is pleased to announce that it has raised $32 million in Series A funding. The round included notable investors in the space. GSR, Tendermint Ventures, Fundamental Labs, Coinbase Ventures, LongHash Ventures, Figment VC, New Form Capital, Blockchain Capital, Yunt Capital, Jump Capital, Polytope Capital, NGC Ventures, SOSV, and Spartan Group were among those who participated. This latest round of funding marks another step in Composable’s journey to build and launch what it believes to be the final missing “LEGO” building block in the Web3 and DeFi technical stack: cross-chain composability. Composable argues that despite composability being a defining characteristic of DeFi and Web3, it is, with disappointment, limited to isolated chains and layers in its current form. To that end, Composable Finance is among the first to develop a development and execution environment that aims to deploy orchestration logic that allows for ecosystem – agnostic, cross-blockchain communication in a truly decentralized fashion. The fundraise comes after the successful procurement of two parachains, both on Polkadot (Composable Parachain) and Kusama (Picasso Parachain). Composable has also built out its offering with Mosaic, its transfer-availability layer, Centauri, the IBC Substrate bridge to the Cosmos ecosystem, and Pablo, our next generation decentralized exchange on Picasso. The new capital will be used to expand the...