Blockchain startup Hyperlane secures $18.5 million in funding

Oluwajuwonlo Afolabi -

A startup that is helping developers connect applications across blockchains, Hyperlane, has raised $18.5 million in its seed funding round led by Variant, a crypto-focused investment firm.

  • The fund will be used to hire more talents, enhance product development and security, including bug bounties and additional audits for the blockchain startup, Jon Kol, Hyperlane co-founder says.
  • Hyperlane is a blockchain-focused platform that provides developers with a messaging application programming interface (API) and software development kit (SDK) to easily build apps that can be accessed from any blockchain.
  • The platform is adding new features such as Interchain Accounts and aims to launch Sovereign Consensus features soon, a feature that expands the way developers can configure cross-chain communication.
  • The Connecticut-based blockchain firm was co-founded by Asa Oines, Nam Chu Hoai, and Jon Kol. Morgan Beller (NFX Partner) and Zaki Manian (Cosmos blockchain co-creator) advised Hyperlane on the deal.
  • Galaxy Digital, CoinFund, Circle, Figment, Blockdaemon, Kraken Ventures, and NFX invested in the seed funding round.