Cross-chain interoperability protocol Owlto Finance has raised fresh funds in a round backed by Matrixport, pushing its valuation to $150 million.
Owlto Finance, an interchain interconnection service developed as an Ethereum Layer 2 stacking solution, has raised fresh capital in a funding round backed by Matrixport, raising its valuation to $150 million.
Launched in 2023, Owlto Finance supports more than 45 networks within the Bitcoin, Ethereum, and Solana ecosystems. While the size of the funding was not disclosed, it is understood that the proceeds will help the startup expand its network support as well as develop a new interoperability protocol, which will leverage an “AI agent” to generate suggestions for cost-effective interconnection paths, according to a press release seen by crypto.news.
Owlto Finance is also developing a standardized interoperability protocol and cross-chain liquidity solution. This will allow smart contracts to facilitate transactions across non-custodial chains without the need to deploy their own cross-chain liquidity.
The protocol has been awarded an AA rating by blockchain auditor CertiK, placing it among the “highest-rated projects in the cross-chain bridge category.”
This funding follows an $8 million strategic funding round from Owlto Finance two months ago, led by Bixin Ventures and CE Innovation Capital, with participation from Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma, and SNZ Capital.