LightLink is a layer-2 blockchain for Ethereum that has raised $6.2 million in an extended seed round that included investors from businesses of all sizes.
The company stated in a social media post that they have no plans for any more funding deals at the moment.
The seed round went for more time than planned because buyers were excited. LightLink earned an extra $1.7 million from this. The company is getting close to its goal of letting millions of people use Web3 and making its own tools for moves that do not require gas by getting additional funding.
LightLink’s Strategic Partnership Plans
LightLink co-founder and CEO Roy Hui expressed excitement about the investment and made it clear that the company is dedicated to creating useful blockchain solutions.
Venture capital (VC) firms like MH Ventures and NxGen, as well as individual crypto investors like Eric Cryptoman and Satoshi Stacker, took part in the extended seed round.
LightLink and Animoca Brands have joined forces to make it possible for about 115,000 deals to take place every day. One of its plans for the future is to release the LL token. It will be backed by a liquidity bootstrapping pool and used to make sure that prices are spread out equally within its community.
VC companies are becoming increasingly interested in crypto, which is why LightLink’s seed round raised a great deal of funds. Since the fourth quarter of 2023, Crypto Koryo statistics indicate that venture capital funding for crypto projects has grown by 38%. The number of projects that get VC funds has also grown by 49%.
Firms like Andreessen Horowitz, OKX Ventures, and Paradigm put more than $1.1 billion into infrastructure and autonomous finance projects in the first three months of 2024.
As of the fourth quarter of 2023, this rise in venture capital spending shows that the crypto business can keep expanding and coming up with new ideas.
