CDS Startups Conduit Announces $7 million Seed Round and Partnership with Optimism
Startups

Conduit Announces $7 million Seed Round and Partnership with Optimism

382
Conduit Announces $7 million Seed Round and Partnership with Optimism

Recently, Conduit announced that it raised $7 million in a funding round led by Paradigm. Joshua Ma, Robert Miller, Dan Romero, Ludwig Pettersson, and Guillaume Poncin also participated in the investment round. The funding was said to be used to help the firm sustain the launch of the first product and turn a profit.

Conduit Announces $7 million Seed Round and Partnership with Optimism

One of the leaders in the crypto venture capital sector, Paradigm raised a then-record $2.5 billion for a new fund at the end of the bear market in November 2021. Conduit and Paradigm have a close relationship because Andrew Huang is the brother of Matt Huang, managing partner and co-founder of Paradigm, who withdrew from the investing process. Also, Andrew Huang stayed at the company for eight weeks as an entrepreneur in residence.

Partnership with Optimism

The platform has partnered with Optimism, a layer 2 blockchain network. With this partnership for the platform’s first product, they have found a way to aggregate transactions to reduce fees and traffic congestion while maintaining Ethereum’s underlying security.

Developers may deploy their applications to Optimism fast and simply with Conduit‘s managed service. Together, they will assist developers in switching to the chain’s next Superchain blockchain network and in building apps on it.

References

www.conduit.xyz

Written by
lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Phoenix AI Ecosystem Fund Launched with Contributions from JDI Group and Tensor

20 Million Dollar Phoenix AI Ecosystem Fund launched.

MicroStrategy Acquires 3,000 BTC Amid Bitcoin ETFs’ Impending Overtaking of Gold ETFs

MicroStrategy's recent Bitcoin acquisition aligns with forecasts suggesting that Bitcoin ETFs could...

USDe Developer Ethena Raises $14 Million in Strategic Investment Round

USDe developer Ethena said that with the latest funding, its valuation has...

Jupiter Crypto Exchange Unveils WEN through its Latest Token Launchpad

Jupiter Crypto exchange introduces WEN Token via new token launchpad.