Axelar Completes Strategic Financing on November 22, 2021

According to industry sources, cross-chain communication network Axelar completed a strategic financing round on November 22, 2021. Investors in this round include Crypto.com Capital, Morningstar Ventures, Informal Systems, Scytale Digital, ZKValidator, and 0xMaki, among others. To date, Axelar has raised a total of $143.75 million.Axelar is a decentralized cross-chain communication network designed to enhance Web3 interoperability by connecting heterogeneous blockchains and enabling asset liquidity and composability in an optimized manner. The project consists of a network layer and an API layer. Its core is a permissionless overlay network that delivers Turing-complete cross-chain communication through proof-of-stake and permissionless protocols. Developers can leverage upper-layer APIs and protocols to build applications across any number of chains. Once integrated, all newly interconnected blockchains become interoperable with applications, generating unlimited network effects.Axelar has demonstrated rapid growth through its funding history. The project raised $3.75 million in a seed round in November 2020, followed by a $25 million Series A in July 2021 and a $35 million Series B in February 2022. Notably, Axelar launched its native token AXL in September 2022, which was subsequently listed on major exchanges. In July 2023, Axelar partnered with technology giant Microsoft to jointly develop blockchain interoperability solutions, underscoring its technical strength and industry influence. According to the latest reports, Axelar plans to launch its DAMA 2 multi-chain infrastructure product in November 2025, further advancing cross-chain technology.