PolkaFoundry Closes Oversubscribed $1.9 Million Fundraising Round With Backing From Leading Blockchain Investors

PolkaFoundry is delighted to have the support of an impressive roster of blockchain investors as we prepare for our next stage of growth. More than 20 reputable investment VCs and funds in the blockchain field have devoted their attention and support to PolkaFoundry, contributing to a private investment worth nearly $2 million, including a few names such as Signum Capital, Spark Digital Capital, Master Ventures, AU21 Capital, X21 Digital, Magnus Capital, Rarestone Capital, PNYX Ventures, and Block Dream Fund — the newly-founded $100m OKEx’s ventures capital (1). The strong support from the blockchain investment community — the round was oversubscribed by 10x — reflects the excitement around PolkaFoundry’s one-stop dApp integration factory for applications building for the future of open networks on Web 3.0.

The proceeds will be used to support the continued development of dApp integration solutions for the interoperable Polkadot and other blockchain ecosystems, as well as marketing and development initiatives. The funding announcement coincides with PolkaFoundry’s go-to-market launch led by marketing and growth accelerator advisory Momentum 6.

DApp and Blockchain Integration: Adapt or Die

PolkaFoundry is backed by a team with a record of bringing successful blockchain projects to market. Since its founding in 2018 by Thi Truong, who was then a key member of Kyber Network’s core team, several blockchain developers from successful projects have joined the PolkaFoundry team. PolkaFoundry is now led by a global team of 20+ members located in various countries including Singapore, Vietnam, Japan, Canada, and India.

Our mission at PolkaFoundry is to address the numerous integration issues currently facing dApps and the blockchain and slowing the adoption of DeFi and other use cases. Obstacles to delivering user-centric services range from a poor user experience (UX) to privacy and security concerns over decentralized data feeds. When the decentralized, trustless web arrives, these dApp compatibility issues will become a bigger disadvantage for those not Web 3.0-ready.

Developers, however, risk being blindsided by the speed of blockchain innovation. Consider that over the last year, more dApps have been developed for interoperable and scalable blockchains, with especially high activity around the Polkadot ecosystem built for Web 3.0. No one would question the backwardness of developing an app today for last year’s Phone IOS. Similarly, today’s dApps and blockchains need to adapt or die. PolkaFoundry gives developers a complete suite of tools to build for nextgen blockchains and Web 3.0 out of the box.

Developer Solutions For Nextgen Open Finance

The need for improved UI and overall integration with blockchain ecosystems is especially obvious in popular DeFi dApps. PolkaFoundry’s complete suite of dApp and blockchain integration solutions are designed to remove the many incompatibility issues so DeFi dApp users can gain maximum value from decentralized finance. They include the UX, scalability, utility, and biz-ready solutions to improve the overall user experience, security and performance of DApps and blockchains.

Powered by PolkaFoundry, DeFi dApps can seamlessly exchange data, transfer assets, manage identities and ensure privacy across public and private chains, all while achieving the scalability required to manage high volume and complex DeFi transactions. Open lending, insurance, DEXes, and other DeFi services can operate trustlessly while delivering full value to their users.

Without these bridges to the user-owned financial system, the paradigm shift to decentralized financial services will continue to be bottlenecked and slow.

(1)Digital Finance Group, Youbi Capital, MANTRA DAO, Lotus Capital, Blocksync Ventures, Vendetta Capital, Solidity Ventures, Blockhunter Capital, CryptoDormFund, Black Edge Capital, Das Kapital, Gestalt Capital, and FOMOcraft round out the investors.

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