Router Protocol Announces the Accomplishment of Oversubscribed Funding

Router Protocol, an interoperability layer that connects diverse blockchains, has disclosed an exclusive development. As per the company, it has accomplished oversubscribed funding that took into account the participation of well-known crypto funds and angels. The platform shared a comprehensive blog post to provide the details about this move.

Router Protocol Accomplishes Its Oversubscribed Funding

The firm expressed enthusiasm about this endeavor. It mentioned that the strategic round had a chief target of expanding the cap table of Router. In this respect, the project took into account the cryptocurrency operators who thoroughly comprehend that the cross-chain infrastructure is important. They also know that this can speed up the ecosystem advancement while Router upgrades into an L1 blockchain platform.

Additionally, the firm also revealed that a distinctive group of proficient Web3 executives and founders participated in the project. They reportedly came in as advisors and angels. These personalities took into account Ravindra (Frontier), Amitej (Stader), Anurag Arjun (Avail), Aniket (Biconomy) and Amrit Kumar (Altlayer). They also included Parker Jou (Caldera), Keone Hon (Monad), and so on.

According to Router Protocol, it also obtained huge support from the platform’s existing investors. They included prominent market players like Luganodes, RavenDAO, CryptoBantere, DeFi Capital, Woodstock, and Wintermute Ventures. This reportedly denotes a testament to their solid belief in the company’s vision. The other famous angels and advisors included Surojjit Chatterjee (EMA, Flipkart, Google, Coinbase), Gokul Rajaram (Google/Doordash), and so on.

The firm added that it will strategically deploy the respective funding’s proceeds to push forward its development. Apart from that, it will also utilize them for the highly speculated mainnet release of Router Chain. The company claimed that it is poised to revolutionize the fund transaction by minimizing the blockchain complexity. Hence, this would reportedly unlock a new epoch of smooth cross-chain applications as well as user experiences.

The Platform Also Releases the Router Ecosystem Grants Program to Help Router Chain Projects

Router Protocol’s CEO “Shubham Singh” also remarked on this initiative. As per the executive, the ecosystem’s swift expansion is thrilling. He added that cross-chain projects such as FolioX, StakeEase, and several others are leveraging the firm’s interoperability measures. To speed up the platform’s growth, it has also announced the impending release of the Router Ecosystem Grants Program. It will offer significant financial resources and support to profitable projects on the Router Chain.