Router Protocol, a bridge between various blockchains, has announced a major milestone. The company has successfully secured oversubscribed funding with the participation of renowned crypto funds and angels. To share the details of this achievement, the platform has published a comprehensive blog post.
Celebrating the completion of its oversubscribed funding, Router Protocol expressed its excitement about the endeavor. The primary goal of the strategic round was to expand the cap table of Router. The project specifically targeted cryptocurrency experts who understand the significance of cross-chain infrastructure in advancing the ecosystem as Router transitions into an L1 blockchain platform.
In addition, Router Protocol disclosed that a group of experienced Web3 executives and founders have joined the project as advisors and angels. Notable personalities such as Ravindra (Frontier), Amitej (Stader), Anurag Arjun (Avail), Aniket (Biconomy), and Amrit Kumar (Altlayer), along with Parker Jou (Caldera) and Keone Hon (Monad), have shown their support.
The company also highlighted the strong backing from its existing investors, including major market players like Luganodes, RavenDAO, CryptoBantere, DeFi Capital, Woodstock, and Wintermute Ventures. This demonstrates their unwavering belief in the company’s vision. Well-known angels and advisors such as Surojjit Chatterjee (EMA, Flipkart, Google, Coinbase) and Gokul Rajaram (Google/Doordash) have also contributed to the success of Router Protocol.
Router Protocol plans to strategically allocate the funds to accelerate its development and prepare for the highly anticipated mainnet release of Router Chain. The company aims to simplify fund transactions and unlock a new era of seamless cross-chain applications and user experiences.
Furthermore, Router Protocol has introduced the Router Ecosystem Grants Program to support projects on Router Chain. CEO Shubham Singh expressed excitement about the rapid growth of the ecosystem, emphasizing the importance of cross-chain projects like FolioX and StakeEase in leveraging the platform’s interoperability measures. The upcoming release of the Router Ecosystem Grants Program will provide significant financial resources and support to promising projects on Router Chain.