Analog’s Valuation Hits $120 Million with Recent Funding Round
Analog, a Web3 platform, has recently raised $16 million in a fundraising round. The round saw significant backing from Web3 and crypto projects, with a focus on enhancing its cross-chain communication tools for developers.
Web3 Projects Support Analog
Notable investors that participated in the fundraising round include Orange DAO, Near, Benqi Finance, Wintermute, Quantstamp, Tribe Capital, Alumni Ventures, NGC Ventures, and individual investors such as former Coinbase executive Balaji Srinivasan and Mike Novogratz’s family office, Samara Asset Group.
Valuation Soars
With the newly raised capital, Analog’s valuation reached $120 million, marking a significant milestone for the emerging Web3 company. The funds will be used to enhance cross-chain communication capabilities.
Founder’s Vision
Victor Young, founder of Analog, emphasized the need for cross-chain DEX aggregators to pull data from different DEXs on various chains for the best routes and accurate price discovery mechanisms.
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