Cross-chain interoperability protocol Owlto Finance has recently secured new funding in a round supported by Matrixport, driving its valuation up to $150 million.
Owlto Finance, a cross-chain bridging service that serves as Ethereum’s layer-2 roll-up solution, has received fresh investment in a funding round backed by Matrixport, pushing its valuation to $150 million.
Established in 2023, Owlto Finance offers support for over 45 networks across the Bitcoin, Ethereum, and Solana ecosystems. While the exact amount of the funding was not disclosed, it is known that the funds will be used to expand network support and develop a new interoperability protocol. This new protocol will utilize an “artificial intelligence agent” to suggest cost-effective bridging paths, as detailed in a press release obtained by crypto.news.
In addition to this, Owlto Finance is working on creating a modular interoperability protocol and an omnichain liquidity solution. These developments will enable smart contracts to conduct non-custodial cross-chain transactions without requiring their own multi-chain liquidity.
The protocol has received an AA rating from blockchain auditor CertiK, positioning it as one of the top-rated projects in the cross-chain bridge category.
This recent funding round comes after Owlto Finance’s strategic funding round of $8 million just two months ago, which was led by Bixin Ventures and CE Innovation Capital. Other participants in this round included Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma, and SNZ Capital.
Overall, Owlto Finance’s innovative approach to cross-chain interoperability and its dedication to advancing blockchain technology have positioned it as a key player in the decentralized finance space. With the support of Matrixport and other investors, Owlto Finance is poised to continue its growth and development in the rapidly evolving crypto landscape.