[Funding alert] Switzerland-based Squid Secures $4Million in Funding

Thursday 1, 2024 | By Startup Rise EU

Switzerland-based Squid secures $4million in funding. Polychain Capital led the round, and Nomad Capital, North Island Ventures, Maelstrom, and Chorus One also participated.

Switzerland-based Squid secures $4million in funding. Polychain Capital led the round, and Nomad Capital, North Island Ventures, Maelstrom, and Chorus One also participated.

Breed, Typhon Ventures, Department of XYZ, and Node Capital, with additional financing from Distributed Global, Fabric Ventures, and Chapter One. The cash will be used by the company to expedite development in order to facilitate more intricate asset routing and sophisticated transaction sequence bundling.

Read also - Traveltech Company Amadeus Acquired Vision-Box

The team can now support more chains in the Cosmos and EVM ecosystems and beyond thanks to this raise. The group will also create more intricate connections with decentralized apps (dApps) so that users may engage with them in a multitude of ways, such as making deposits into DeFipositions, buying NFT collectibles and in-game stuff, and more.

Squid, a safe cross-chain router on the Axelar Network that facilitates communication between blockchains and apps, is run by Fig and Christina Rud. Integration with Squid is made possible via their front-end tools, SDK, and API, which enable token transfers and quick, dependable single-click transactions.

Read also - Switzerland-based Spiden Secures $15Million in Additional Funding

It may be used by developers to seamlessly integrate users from any ecosystem and provide scalable user experiences for those who own cryptocurrency wallets.

Over 500,000 cross-chain token swaps, LP deposits, and NFT purchases were made possible by Squid in its first year of operation, totaling over $950M in volume for over 200,000 customers.

Read also - Stockholm-based Version Lens Secures Pre-Seed Round Funding

About Squid

With just one click, Squid grants access to apps on different chains and facilitates the swapping of any coin between blockchains. No matter what chain a consumer is on, you can reach them with a crypto wallet by using Squid to create scalable, frictionless user experiences that use cross-chain liquidity.

Read also - Switzerland-based QUMEA Raises CHF 9Million in Series A Round Funding

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