Interoperability Protocol Connext Labs Raises $7.5 Million at a $250 Million Valuation, with Participation from Polychain Capital, Polygon Ventures, and Others

ChainCatcher news, interoperability protocol Connext Labs has completed a $7.5 million funding round at a valuation of $250 million, with participants including Polychain Capital, Polygon Ventures, Coinbase Ventures, Ethereal Ventures, 1kx, Hashed, and Scalar Capital. The new funds will be used to establish the Connext Foundation, which will be responsible for issuing development grants and funding for the Connext program.

Connext is "building the HTTP of Web3" to create a communication layer across different blockchain networks. According to the crypto data platform RootData, in July 2021, Connext completed a $12 million Series A funding round. (Source link)