July 25, 2023

Cosmic Wire Gets $30 Mln Led by Polygon, Solana Foundation

Cosmic Wire

Cosmic Wire

Cosmic Wire, a startup specializing in infrastructure projects in the Web3 industry, announced it has raised $30 million as seed funding led by Polygon and the Solana Foundation. The Solana Foundation is a non-profit organization that aims to build, support, and grow the Solana network.

The seed funding positioned Cosmic Wire as the first-ever cross-chain funded Web3 company, according to Venture Beat website. According to Cosmic Wire, the fund will be used to beef up the development of a decentralized, secure, and transparent digital Web3 ecosystem. It eyes expanding its global Web3 ecosystem through cross-chain technology, facilitating data transfer and interoperability across different blockchains.

In this regard, CEO and founder of Cosmic Wire Jerad Finck noted that the funding will allow the startup to scale and deliver its technology to products that are ready for mass adoption, especially in fields that are missed in the Web3 space.

Meanwhile, Johnny Lee, the general manager of games, entertainment, and media at Solana Foundation, said: “Their [Cosmic Wire] metaverse SDK solutions significantly reduce development times of high-fidelity, 3D, browser-based metaverse experiences with e-commerce of both physical web3 digital products, [content delivery networks], payment solutions and avatar [user generated content] all integrated.”

Cosmic Wire is working on blockchain-based projects that develop decentralized apps that provide peer-to-peer communications and transactions in addition to producing cross-chain technology that allows interoperability among various blockchains and blockchain-agnostic tools.

Moreover, the Miami-based startup also announced that it has been chosen as a participant in Google Cloud’s Web3 startup program prior to its official launch. The program allows Web3 projects and startups to access new benefits that give them the technology, community, and resources they need.

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