Polymer Labs Closes $3.6m Seed Funding

Polymer Labs is excited to announce its $3.6M Seed Round. The round was co-led by Distributed Global and North Island Ventures and included participation by Digital Currency Group, Coinbase Ventures, Ignite (formerly Tendermint), Advanced Blockchain AG, The LAO, Taureon, Wintermute Trading, Longhash Ventures, Signum, UOB Venture Management, and angels including Joe Lallouz (Bison Trails), Karim Atiyeh (Ramp), Martin Mao (Chronosphere), Sam Kazemian (Frax), Andrew Masanto (Reserve), Loong Wang (REN), and 30+ others.

At Polymer Labs, we’re building secure and reliable IBC (inter-blockchain communication) infrastructure. As L1 and L2 ecosystems like Ethereum, Solana, Cosmos, Arbitrum, Polygon, etc. have all seen massive growth in users and TVL over the past year, it has become clear that there is a need for a unified OSS standard for multichain communication.

“Web3 is rapidly evolving into a network-of-networks, and interoperability solutions like Polymerase will function as some of the most important blockchain infrastructure in the coming years. We’re thrilled to support this project.” — Travis Scher of North Island Ventures

We believe IBC is the answer. Our universal IBC routing and rollup protocol, Polymer, will form the backbone of a multi-cluster ecosystem connecting the whole of Web3. In the spirit of decentralization, the infrastructure we build will be governed by the first IBC infrastructure focused DAO — PolymerDAO.

“Tendermint is excited to support Polymer Labs as they build out what we consider to be the IBC Adapter to the greater ecosystem external to Cosmos. As they scale IBC to all chains, Polymer Labs aims to position Polymer as the universal IBC router to all chains.” — Alessio Treglia, VP of Engineering at Tendermint

“Polymer Labs’ universal IBC routing/rollup solution is at the bleeding edge of the fabric of Web3. We’re excited to support Polymer’s blockchain interoperability solutions and colead its seed round. We’re looking forward to continuing to work closely with Peter, Bo, Alexander, and the larger Polymer team in establishing the Multichain standard and decentralizing the future of Web3 infrastructure.” — Johnny Steindorff of Distributed Global

To bring the Polymer Labs vision to life, we’re on a mission to:
1) Recruit top Web2 and Web3 talent to work on scaling IBC to all chains.
2) Build secure and reliable IBC infrastructure in the form of the Polymer chain.
3) Commit significant resources towards core IBC protocol development and roadmap.

Additional details of Polymer Labs, the Polymer protocol, and the Early Contributor Program will follow in upcoming articles. Follow our Twitter, join our Discord and stay tuned.

We’re excited to build the fabric of the new Internet with you.
The Polymer Labs Team

“We are excited to back Polymer as it tackles DeFi’s biggest growth opportunity in cross-chain interoperability. Purpose-built blockchains are key to advancing specific use cases and are healthy for the ecosystem overall, but, if they don’t interact with one another, users will find them cumbersome to navigate. Interoperability solutions like Polymerase will allow users and value to move freely across chains, paving the way for an ecosystem that is both highly decentralized and easily accessible — with users and developers able to pick their favorite features across chains. The multichain Polymer DAO is an exciting step in the development of multichain native dapps.”— Matt Beck, Digital Currency Group

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Polymer Labs

Polymer is building a universal IBC router to connect all chains.