Blockchain infrastructure firm ChainSafe Systems has secured a USD $18.75 million Series A funding round led by Round13.
Headquartered in Toronto with offices in Berlin and Zagreb, ChainSafe operates globally and has more than 120 employees across 33 countries. The company was launched in 2017 after its founding team came together at an Ethereum meetup in Toronto.
ChainSafe has evolved to become the leading multi-chain research and development company with a focus on infrastructure development and web3 gaming.
The funding will enable ChainSafe, an innovator in protocol engineering, to accelerate development of web3 infrastructure and gaming platforms.
Also included in the round were new investors NGC Ventures, HashKey Capital, Sfermion, Jsquare, and returning investors ConsenSys, Digital Finance Group, and Fenbushi Capital.
Concurrent with the funding round, Khaled Verjee, Managing Partner of Round13’s Digital Asset Fund, is joining ChainSafe’s board of directors alongside current board member Joseph Lubin, co-founder of Ethereum and founder of ConsenSys.
One of the company’s flagship products is web3.unity, a software development kit (SDK) for connecting Unity games with blockchain technologies. Web3.unity is designed to reduce complexity and introduce a new level of ownership to gaming.
Currently in production with more than 100 teams, the SDK is a catalyst for the rapidly growing blockchain gaming space, which is anticipated to reach US$2.8 billion by 2028.
In addition, ChainSafe’s cross-chain bridging solutions have connected major blockchains together including Ethereum, Polygon, and Avalanche, and in turn secured over $600 million in cross-chain token transfers. Designed and released by ChainSafe, these bridges are being used in a new cross-chain interoperability project for which ChainSafe is the leading contributor.
“ChainSafe was started with a vision that decentralized technologies could change the world. As time has progressed, the importance of our contributions has become increasingly clear. I am proud of ChainSafe’s impact on the community and, with new partners joining our team, we are looking forward to accelerating the growth of the web3 ecosystem,” said Aidan Hyman, CEO and co-founder of ChainSafe.
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