Wormhole completes a new round of $225 million financing with a valuation of $2.5 billion and announces the establishment of Wormhole Labs

2023-11-29 22:03:04

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ChainCatcher news, according to official news from Wormhole, the developer platform focused on inter-blockchain communication, Wormhole has announced the successful completion of a new funding round of $225 million, with the company's valuation reaching $2.5 billion. This round of financing attracted participation from well-known investment institutions such as Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital, and Arrington Capital. With the influx of funds, Wormhole also announced the establishment of Wormhole Labs, aimed at promoting the development and application of cross-chain technology.

Since its establishment in 2021, Wormhole has become a core infrastructure for many major blockchains and projects, handling over $35 billion in cross-chain fund transfers and more than 750 million cross-chain messages. Dan Reecer, Chief Operating Officer of the Wormhole Foundation, stated that the company will continue to promote the construction of Web3 infrastructure and launch more innovative products next year to continue supporting the development of the Wormhole developer ecosystem.

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