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Owlto Finance Secures New Funding at $150 Million Valuation
Cross-chain interoperability protocol Owlto Finance has raised new funding in a round backed by Matrixport, propelling its valuation to $150 million.
Owlto Finance, a cross-chain bridge service developed as Ethereum’s Layer 2 roll-up solution has attracted new capital in a funding round backed by Matrixport, increasing its valuation to $150 million.
Launched in 2023, Owlto Finance supports over 45 networks across BitcoinEthereum and Solana ecosystems. While the amount of funding was not disclosed, it is understood that the proceeds will help the startup expand its network support as well as advance a new interoperability protocol, which will rely on an “artificial intelligence agent” to generate suggestions for profitable transition paths, according to a press release seen by crypto.news.
Owlto Finance is also developing a modular interoperability protocol and omnichain liquidity solution. This will allow smart contracts to facilitate non-custodial cross-chain transactions without having to deploy their own multi-chain liquidity.
The protocol has been awarded an AA rating by blockchain auditor CertiK, placing it among the “highest-rated projects in the cross-chain bridge category.”
The funding follows Owlto Finance’s $8 million strategic funding round two months ago, led by Bixin Ventures and CE Innovation Capital, with participation from Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma and SNZ Capital.