# Axelar

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/axelar-2

- Industry: Software
- Headquarters: Waterloo, Canada
- Website: www.axelar.network
- Total disclosed funding: $64M
- Latest round: Series B (Feb 15, 2022)
- Investors on record: 15

## About

Axelar Inc. is a technology company that provides a Web3 interoperability platform, enabling seamless blockchain connections and cross-chain application development for developers.Founded in 2020 by Georgios Vlachos in Waterloo, Canada, Axelar Inc. specializes in blockchain interoperability solutions. The company has completed 4 deals, with the most recent funding round being a Series B in February 2022, raising USD 35.000 mn from investors including Blockchange Ventures and North Island Ventures. The company has not undergone significant changes in strategy since its inception.Axelar offers a Web3 interoperability platform that connects various blockchains via the Mobius Development Stack (MDS). This core product allows developers to build and deploy cross-chain applications efficiently, supporting diverse use cases like trade execution on Uniswap and NFT minting for real-world assets. Their services cater to developers in decentralized finance, real-world assets, and gaming, enhancing blockchain interoperability across over 69 blockchains.Axelar generates revenue through B2B partnerships and service transactions within the blockchain ecosystem. Their model includes subscription-based access to the Mobius Development Stack and transaction fees for cross-chain operations, allowing clients to efficiently manage asset transfers and smart contract executions across multiple platforms. Specific pricing details are not publicly disclosed, but revenue is derived from the utilization of their products.Following the Series B funding of USD 35.000 mn in February 2022, Axelar plans to enhance its growth and development efforts. The funding will support a phased maintenance rollout of their services. The company aims to develop new products and expand into additional markets, although specific target markets and release dates have not been disclosed.

## Funding rounds

- Series B, Feb 15, 2022, $35M — Rockaway, Polychain Capital, Blockchange Ventures, Node Capital, Dragonfly Digital Management, Lemniscap, North Island Ventures, Cygni Capital, Olive Tree Capital
- Series A, Jul 15, 2021, $25M — Collaborative Fund, Polychain Capital, Galaxy Asset Management, Dragonfly Digital Management, Lemniscap, Robot Ventures, North Island Ventures, Divergence Ventures, Cygni Capital
- Seed, Nov 13, 2020, $3.8M — Collaborative Fund, DCVC, Coinbase Ventures, Lemniscap, North Island Ventures, Divergence Ventures, Cygni Capital

## Investors

- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Seed, Series A
- DCVC (https://capitalatlas.ai/funds/dcvc) — Seed
- Coinbase Ventures (https://capitalatlas.ai/funds/coinbase-ventures) — Seed
- Lemniscap — Seed, Series A, Series B
- North Island Ventures (https://capitalatlas.ai/funds/north-island-ventures) — Seed, Series A, Series B
- Divergence Ventures (https://capitalatlas.ai/funds/divergence-ventures) — Seed, Series A
- Cygni Capital (https://capitalatlas.ai/funds/cygni-capital) — Seed, Series A, Series B
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Series A, Series B
- Galaxy Asset Management (https://capitalatlas.ai/funds/galaxy-asset-management) — Series A
- Dragonfly Digital Management (https://capitalatlas.ai/funds/dragonfly-digital-management) — Series A, Series B
- Robot Ventures (https://capitalatlas.ai/funds/robot-ventures) — Series A
- Rockaway (https://capitalatlas.ai/funds/rockaway) — Series B
- Blockchange Ventures (https://capitalatlas.ai/funds/blockchange-ventures) — Series B
- Node Capital (https://capitalatlas.ai/funds/node-capital) — Series B
- Olive Tree Capital (https://capitalatlas.ai/funds/olive-tree-capital) — Series B