Blockchain infrastructure startup Cata Labs has raised $4.2 million in seed funding at a valuation in the mid-eight figures, according to an announcement made by the company on Wednesday.
Cata Labs Raises $4.2M in Seed Funding
Blockchain infrastructure startup Cata Labs has raised $4.2 million in seed funding at a valuation in the mid-eight figures, according to an announcement made by the company on Wednesday.
The funding round, which ended in March, was led by Spartan Group and included participation from various other firms such as Robot Ventures and Maven 11. Cata Labs is developing Catalyst, a cross-chain bridge that enables easier communication between different blockchains.
Catalyst can be integrated into blockchains that opt into its ecosystem, streamlining the integration process. The startup believes that the future will see a proliferation of modular blockchains that will require seamless communication with each other, but attracting user activity to its blockchains remains a major challenge.
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