Polymer Labs
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Polymer Labs - overview
Established
2021
Location
New York, NY, US
Primary Industry
Software
About
Based in New York, US, and co-founded by Peter Kim in 2021, Polymer Labs operates as the developer of a blockchain-based platform for Ethereum interoperability. In January 2024, the firm raised USD 23 million in venture funding co-led by investors Blockchain Capital, Maven 11, and Distributed Global, with participation from other investors Coinbase Ventures, Placeholder Capital, Digital Currency Group, etc. The company stands as Ethereum's Interoperability Hub, connecting Ethereum Layer 2 solutions through the Inter-Blockchain Communication Protocol (IBC). By incorporating IBC into the Ethereum ecosystem, Polymer pioneers modular security and fosters the permissionless expansion of the IBC network.
The protocol's strength lies in merging key components from the Optimism stack, Eigenlayer's data availability, and Cosmos SDK's interoperability features. This strategic amalgamation results in a robust, secure, and scalable interoperability solution designed to cater to the vast user base in Web3. The company plans to utilize the January 2024 funding to construct the Interoperability Hub for Ethereum.
Current Investors
Digital Currency Group, Blockchain Capital, Placeholder
Primary Industry
Software
Sub Industries
Connectivity Software
Website
www.polymerlabs.org/
Verticals
Artificial Intelligence, Blockchain
Company Stage
Early Stage
Total Amount Raised
Subscriber access only
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