LightLink, a prominent Ethereum layer-2 blockchain project, recently concluded an extended seed funding round, securing an impressive $6.2 million in investment. This funding round not only attracted interest from institutional investors but also saw significant contributions from individual investors eager to support the project’s growth.
The decision to extend the seed round was driven by overwhelming demand from investors, leading to an additional $1.7 million being raised. This funding boost will be instrumental in realizing LightLink’s vision of creating a user-friendly web3 ecosystem accessible to millions while advancing innovative technologies for gasless transactions.
Roy Hui, CEO, and co-founder of LightLink, emphasized the company’s dedication to practical blockchain solutions and expressed optimism about the impact this investment will have on their mission. The participation of reputable venture capital firms like MH Ventures and NxGen, as well as contributions from influential figures in the crypto space, underscores the industry’s confidence in LightLink’s potential.
LightLink’s strategic partnership with Animoca Brands and its upcoming LL token launch, supported by a liquidity bootstrapping pool, highlight the company’s commitment to fostering a thriving ecosystem for instant, gasless transactions for dApps and enterprises. With a reported daily transaction volume of 115,000 transactions, LightLink is poised for growth and innovation in the crypto industry.
The successful seed funding round comes at a time when venture capital interest in the crypto space is on the rise. Data from Crypto Koryo indicates a significant increase in VC funding for crypto projects, with notable firms like Andreessen Horowitz and Paradigm leading major investment rounds. The positive trend in VC funding bodes well for continued growth and innovation in the crypto ecosystem, signaling an optimistic outlook for the industry’s future.
