Axelar Cross-Chain Protocol Launched a $60 million Startup Program

The Axelar Blockchain Interoperability Network team has launched a $60 million startup financing program. The initiative was supported by more than 10 investors.

The Axelar Ecosystem Startup Funding Program is designed for developers of Web3 products that "can compete" with centralized projects. Among other things, applicants for funding must protect digital sovereignty, security and privacy.

"The Axelar Ecosystem Startup Funding Program will establish a link between investors who share this vision and a stream of new developers creating internetwork decentralized applications that use Axelar as an infrastructure," the startup representatives said.

Axelar was one of the first projects supported by the cryptocurrency venture fund founded in 2021 by billionaire Paul Tudor Jones and rapper LL Cool J.

Recall that in February 2022, the startup closed a Series B funding round in the amount of $ 35 million with an estimate of $ 1 billion.