Axelar Secures $50 Million in Public Sale Financing on March 3, 2022

According to industry sources, Axelar completed a $50 million public sale financing round on March 3, 2022. Following this round, Axelar’s total cumulative fundraising has reached $143.75 million.Axelar is a decentralized cross-chain communication network dedicated to enhancing Web3 interoperability by connecting heterogeneous blockchains to optimize asset liquidity and programmability. The project features a two-layer architecture: a base network and an upper-layer API. At its core is a permissionless overlay network that provides Turing-complete cross-chain communication through proof-of-stake and permissionless protocols. Developers can utilize the upper-layer API and protocols to build across any number of chains; once integrated, all newly interconnected blockchains achieve interoperability with applications, generating unlimited network effects.In terms of Axelar’s development trajectory, the project raised $3.75 million in seed funding in November 2020, followed by several rounds including Series A and Series B. Notably, Axelar entered into a partnership with Microsoft in July 2023 to jointly develop blockchain interoperability solutions, underscoring the project’s technical capabilities and market recognition. Its token, AXL, was listed on major exchanges in September 2022. According to recent updates, Axelar plans to launch the DAMA 2 multi-chain infrastructure product in November 2025, which will further strengthen its competitive position in the cross-chain communication sector.