Polymer Labs Raises $23M Series A for Modular IBC Protocol
Polymer Labs has secured significant funding to advance its modular blockchain networking protocol. Here are the key details:
- **Series A Funding**: $23 million raised
- **Lead Investors**: Blockchain Capital, Maven 11, and Distributed Global
- **Notable Participants**: Coinbase Ventures, Placeholder, Digital Currency Group, North
The protocol focuses on Inter-Blockchain Communication (IBC) technology, aiming to enhance blockchain interoperability. This development aligns with growing industry interest in modular and composable DeFi solutions, as evidenced by recent work from Inco Network and Circle Research.
*Follow developments at @IncoNetwork for updates on privacy-focused DeFi innovations.*