Total amount raised
Latest funding date
Location
Arcana Network has garnered support from a diverse group of investors, including Fenbushi Capital, Woodstock, and Republic, among others. The platform focuses on providing a seamless multi-chain experience through its Chain Abstraction Protocol, which allows users to spend on any chain without the need for swapping, bridging, or refueling gas.
Keep reading to explore the intricacies of Arcana Network's fundraising journey and the investors backing this innovative platform.
What Is Arcana Network?
Arcana Network is a blockchain company that focuses on providing a seamless multi-chain experience through its Chain Abstraction Protocol. This technology allows apps to exist on their chain of choice while attracting users and assets across multiple chains, eliminating the need for swapping, bridging, or refueling gas.
Founded by Mayur Relekar, Arcana Network offers products like the Arcana Chain Abstraction SDK and Arcana Wallet, which support various types of wallets and enable instant transactions. The company operates within the blockchain and Web3 technology industry and is backed by several notable investors.
How Much Funding Has Arcana Network Raised?
- Seed Round
- Amount Raised: $2.3 million
- Date: March 2021
- Lead Investors: Woodstock, Fenbushi Capital
- Series A
- Amount Raised: $5 million
- Date: September 2022
- Lead Investors: Republic, Fenbushi Capital
Arcana Network has raised a total of $7.3 million.
Key Investors
- Fenbushi Capital
- Details: Fenbushi Capital is a venture capital firm based in Shanghai, China. It is one of the first and most active blockchain-focused venture capital firms in Asia.
- Investment Focus Areas: Blockchain, Fintech, Artificial Intelligence
- Notable Investments: VeChain, Circle, Zilliqa
- Woodstock
- Details: Woodstock is a venture capital firm that invests in blockchain and digital assets. The firm aims to support projects that drive the adoption of decentralized technologies.
- Investment Focus Areas: Blockchain, Digital Assets, Decentralized Finance (DeFi)
- Notable Investments: Elrond, Covalent, Persistence
- Republic
- Details: Republic is a global financial technology firm that operates a multi-asset investment platform. It allows anyone to invest in startups, real estate, crypto, and video games.
- Investment Focus Areas: Startups, Real Estate, Crypto
- Notable Investments: Robinhood, SpaceX, Carta
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