Cata Labs, a New York-based startup building an open-source protocol for modular blockchains called Catalyst, raised $4.2M in funding.
The round was led by Spartan Group with participation from Robot Ventures, Maven11, Alchemy Ventures, HashKey Capital, Circle Ventures, Superscrypt, and angel investors include Calvin Liu, Aditi Sriram, and David Phelps.
The company intends to use the funds to expand operations and its business reach.
Founded by Jim Chang and Alexander Lindgren, Cata Labs is building Catalyst, an open-source protocol that provides liquidity between modular blockchains. With it, any new modular chain can automatically connect liquidity and swap with any chain – including liquidity hubs like Ethereum and Cosmos.
Over the next few months, Cata Labs will focus on the release of the Catalyst whitepaper and testnet, bringing permissionless liquidity to the Cosmos ecosystem. Shortly after, Catalyst will expand to the Ethereum ecosystem, servicing alternative L1 blockchains and L2 rollups.
FinSMEs
26/04/2023