Owlto Finance, the interoperability protocol with 1.6M users in 200+ countries/regions, has raised $8M in its strategic funding round led by Bixin Ventures and CE Innovation Capital (CEiC), followed by 18 prominent VCs including Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma, SNZ Capital.
The funds will fuel Owlto’s ongoing innovation and development in connecting the diverse networks in Web3. This includes advancing their intent-centric AI product, modular interoperability protocol, omnichain liquidity solution V2, and more.
With a prosperous community, Owlto leads cross-chain solution innovation and development
Recently, diversified networks are emerging in Web3, while blockchain interoperability remains a significant challenge. The surge in cross-chain demands has led to the emergence of various cross-chain solutions in the market. Owlto, the intent-centric omnichain interoperability protocol, was developed under the circumstances.
“The future of Web3 is multi-chain, however current cross-chain interactions are too costly and complex. We're confident that Owlto will make significant strides in blockchain technology. Thus, we co-led a strategic round in Owlto Finance, a leading intent-centric interoperability protocol," commented CEiC, who backed notable portfolios including Circle, Figure, Transak, Chainalysis, etc.
Owlto, launched its mainnet in June 2023, has gained 1.6 million users in 200+ countries/regions within a year, becoming a leading Web3 bridge. It currently supports 40 networks within the BTC, ETH, and Solana ecosystems and has partnered with 92 well-known projects, including industry leaders such as Arbitrum, Linea, Starknet, Base, Binance Web3 Wallet, OKX Web3 Wallet, and Kroma, etc. “
We're impressed with the Owlto team's ability to ship incredibly fast to integrate new chains, offering low costs and over 30 available networks,” said Raymond Wong, Founder of Hailstone Labs, which is a leading Web3 VC that has invested in Ethena, Flashbots, Merlin, and Monad, etc.
In the BTC ecosystem, Owlto is the No.1 bridge with 150+ million transactions. In the ETH ecosystem, it ranks No.4 based on 24h number of transactions, while it’s the youngest project among the top 10 bridges on DefiLlama.
(Data Source: DefiLlama, May 7(th))
Owlto's being "fast, safe, low-priced, and easy to use," with a strong market sensitivity and R&D capabilities. “We’re happy to support Owlto’s vibrant and agile team, especially considering their super product and customer-driven approaches and mindsets,” remarked SNZ Capital, a crypto-native, research-driven VC. Currently, Owlto implements a hybrid solution to satisfy users’ diversified demands. For small amount transactions (
Owlto’s future development direction towards being the best bridge
Owlto is developing its AI Intent Interoperability Protocol, which enables users to execute seamless and risk free bridging operations without possessing complex cross-chain expertise or taking on potentially risky operations. Owlto’s AI agent will generate suggestions for secure and cost-effective bridging paths. “It's impressive that Owlto’s innovative team is the first to propose the AI-powered intent-centric approach for connecting diverse networks in Web3. Owlto's tremendous potential will position it as a leading-edge infrastructure project, revolutionizing the blockchain technology landscape,” commented by the leading VC, Bixin Ventures, who has invested in EigenLayer, LayerZero, Sui, Aptos, Pendle, and Mina, etc.
Owlto’s modular interoperability protocol, which will offer Owlto Bridge-as-a-Service (OBaaS), a hybrid cross-chain solution that covers various assets, providing bridging services for Bitcoin and Ethereum L2s. Additionally, Owlto will implement Omnichain Liquidity Solution V2 for DApps, who can directly utilize Owlto's SDK, API, or smart contracts to facilitate non-custodial cross-chain transactions, without deploying their own multi-chain liquidity.
Lastly, Owlto Finance will expand its global marketing and operations, while the Tokenomics Model, Airdrop plan, and listing strategies will be released in the near future. Kroma, a thriving layer 2 solution who invested in Owlto, noted “Owlto’s integration with Kroma Network has contributed greatly, occupying 75% of the bridging volume among our 3rd-party bridges. We’ll support them to enter the Korean market,” commented Kroma. Yonkuro from Skyland Ventures also remarked “I resonate with their grand vision and intend to continue supporting their entry into the Japanese market.”
Owlto Finance Website: https://owlto.finance/
Owlto Official X account: https://twitter.com/Owlto_Finance