# Acala Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/acala-network

- Industry: Financial Services
- Headquarters: Auckland, New Zealand
- Website: www.acala.network
- Total disclosed funding: $8.4M
- Latest round: Series A (Aug 27, 2020)
- Investors on record: 18

## About

Acala Network is a decentralized finance (DeFi) platform that enhances liquidity within the Polkadot ecosystem through cross-chain transactions and smart contract execution.Founded in 2019, Acala Network operates from its headquarters in Auckland, New Zealand, and focuses on providing vital DeFi services. The company was founded by Antonia Chen, Bette Chen, and Ruitao Su. In August 2020, Acala raised USD 7.00 mn in Series A funding led by Pantera Capital, with participation from several other investors. The company has completed a total of 2 funding deals to date.Acala offers a comprehensive suite of decentralized finance (DeFi) products aimed at enhancing liquidity within the Polkadot ecosystem. Its core product, the Acala Network, serves as a unified liquidity layer for cross-chain transactions and smart contract execution. The utility token, ACA, supports services such as staking, enabling users to lock their tokens for rewards, and governance, allowing token holders to influence platform development. Acala’s offerings are accessible globally, targeting markets like North America, Europe, and parts of Asia.Acala generates revenue primarily from transaction fees on its platform, which includes micro gas fees for executing smart contracts and transactions within liquidity pools. Users, including individual clients and developers, engage in staking, governance voting, and liquidity provision, utilizing ACA to pay for transaction fees. The revenue model is designed to foster participation and sustain ecosystem growth through streamlined DeFi activities.Following its Series A funding round in August 2020, Acala Network plans to utilize the USD 7.00 mn raised to advance development and launch its parachain as a DeFi Hub on both Kusama and Polkadot. The company is focused on expanding its market presence, particularly targeting new geographic regions and specific markets by enhancing its product offerings and reaching more users engaged in blockchain technology.

## Funding rounds

- Series A, Aug 27, 2020, $7M — Digital Currency Group, Pantera Capital, Polychain Capital, Kryptonite1, 1Confirmation, Arrington Capital, Altonomy, SNZ Capital, Hypersphere Ventures, Divergence Ventures, Zee Prime Capital, CMS Holdings, LLC, CoinFund Management, Spartan Group, KR1, ParaFi Capital
- Seed, Mar 1, 2020, $1.4M — Polychain Capital, HashKey Capital, P2P Capital, KR1

## Investors

- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Seed, Series A
- HashKey Capital (https://capitalatlas.ai/funds/hashkey-capital) — Seed
- P2P Capital — Seed
- KR1 — Seed, Series A
- Digital Currency Group (https://capitalatlas.ai/funds/digital-currency-group) — Series A
- Pantera Capital (https://capitalatlas.ai/funds/pantera-capital) — Series A
- Kryptonite1 — Series A
- 1Confirmation (https://capitalatlas.ai/funds/1confirmation) — Series A
- Arrington Capital — Series A
- Altonomy — Series A
- SNZ Capital (https://capitalatlas.ai/funds/snz-capital) — Series A
- Hypersphere Ventures (https://capitalatlas.ai/funds/hypersphere-ventures) — Series A
- Divergence Ventures (https://capitalatlas.ai/funds/divergence-ventures) — Series A
- Zee Prime Capital (https://capitalatlas.ai/funds/zee-prime-capital) — Series A
- CMS Holdings, LLC (https://capitalatlas.ai/funds/cms-holdings-llc) — Series A
- CoinFund Management (https://capitalatlas.ai/funds/coinfund-management) — Series A
- Spartan Group (https://capitalatlas.ai/funds/spartan-group) — Series A
- ParaFi Capital (https://capitalatlas.ai/funds/parafi-capital) — Series A