Advanced Blockchain AG increases its position in the DeFi sector by investing in Polymer Lab’s $3.6M Seed investment round
Advanced Blockchain AG, via a subsidiary, has participated in the seed financing round of Polymer Labs. The seed round was led by Distributed Global and North Island Ventures and included many other notable investors such as Digital Currency Group, Coinbase Ventures, and Tendermint to name a few. This investment holds great synergy with Advanced Blockchain’s current portfolio of companies and will push innovation towards the advancement of a cross-chain future.
About Polymer Labs
Polymer, a multi-cluster networking protocol housed on Cosmos, aims to provide end-to-end (e2e) connectivity to chains and networks through inter-blockchain communication (IBC) infrastructure. Their solution allows developers to build applications that abstract the problems of “siloed” blockchains away from the end-users. The ultimate goal is to create a universal IBC based router and rollup protocol for intercommunication across all chains and ecosystems.
The Polymer solution aims to supplement the IBC protocol of Cosmos by extending its capabilities so that chains outside of the Cosmos, or IBC-based ecosystem, can easily utilize and interact with the vast ecosystem of chains that are based on IBC.
Why Advanced Blockchain participated in Polymer Labs’ Seed Round
Polymer’s vision to bring together like-minded individuals, projects, and builders to accelerate cross-chain dApp development and interoperability is well-aligned with that of Advanced Blockchain AG and its ecosystem of partners and portfolio companies. Additionally, Polymer’s experienced leadership team is capable of spearheading the outlined efforts to support the expansion of DeFi across all chains. Polymer aims to house and attract a community of infrastructure builders believing that the future of cross-chain infrastructure should be community-driven and governed.
Advanced Blockchain is aligned with this vision as the Head of Operations, Richard Malone, states, “We have invested in Polymer’s private investment round for several reasons. First and foremost, Bo, Peter, and Alexander are a talented and well-balanced founding team whose background suggests a strong founder-market fit. Secondly, we are aligned with their vision for a more inclusive, collaborative, and interoperable blockchain framework. And furthermore, we believe the team and solution are very synergistic with existing portfolio companies to accelerate the development of our joint-vision of a cross-chain future.”
Further information on Advanced Blockchain AG and its other projects and investments can be found at https://www.advancedblockchain.com/.