# Illusory Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/illusory-systems

- Industry: Software
- Headquarters: Centerville, US
- Website: www.nomad.xyz
- Total disclosed funding: $17M
- Latest round: Series A (Mar 23, 2022)
- Investors on record: 18

## About

Based in Utah, US, and founded in 2021 by its CEO Pranay Mohan and CTO James Prestwich, Illusory Systems, Inc. trading as Nomad, operates as a protocol that allows users to send messages and bridge assets to different blockchains. In April 2022, Illusory Systems, Inc. raised USD 22.4 million in seed funding led by new investor Polychain Capital, with participation from other new investors 1kx, Ethereal, Hack VC, Circle Ventures, Amber, Archetype, Lattice, A&T Capital, Hypersphere, Dialectic, Breyer Capital, Figment, LedgerPrime, Robot Ventures, Continue Capital, Wave Financial, and OpenWeb Technologies Ltd. Other unspecified and individual investors also participated in the round. 

Illusory Systems, Inc. develops a security cross-chain messaging system that allows users to bridge assets from Ethereum to Moonbeam, an EVM-compatible blockchain on Polkadot, and Ethereum to Cardano via Milkomeda. It strengthens the security of its bridge, the protocol uses an optimistic mechanism similar to that used in optimistic rollups. In addition, the company allows off-chain watchers to challenge messages via fraud proofs, without relying on custodians or validators.

The company will use the seed funding to expand its team, increase its customer base and bring security interoperability to more ecosystems.

## Funding rounds

- Series A, Mar 23, 2022, $17M — Amber Venture Partners, Breyer Capital, OpenWeb Technologies Ltd., Polychain Capital, Hack VC, Continue Capital, 1kx Ventures, LedgerPrime, Robot Ventures, Hypersphere Ventures, Ethereal Ventures, A&T Capital, Archetype, Wave Digital Assets, Lattice Capital, Circle Ventures, Dialectic AG, Figment Capital

## Investors

- Amber Venture Partners — Series A
- Breyer Capital (https://capitalatlas.ai/funds/breyer-capital) — Series A
- OpenWeb Technologies Ltd. — Series A
- Polychain Capital (https://capitalatlas.ai/funds/polychain-capital) — Series A
- Hack VC (https://capitalatlas.ai/funds/hack-vc) — Series A
- Continue Capital (https://capitalatlas.ai/funds/continue-capital) — Series A
- 1kx Ventures (https://capitalatlas.ai/funds/1kx-ventures) — Series A
- LedgerPrime — Series A
- Robot Ventures (https://capitalatlas.ai/funds/robot-ventures) — Series A
- Hypersphere Ventures (https://capitalatlas.ai/funds/hypersphere-ventures) — Series A
- Ethereal Ventures (https://capitalatlas.ai/funds/ethereal-ventures) — Series A
- A&T Capital (https://capitalatlas.ai/funds/a-t-capital) — Series A
- Archetype — Series A
- Wave Digital Assets — Series A
- Lattice Capital (https://capitalatlas.ai/funds/lattice-capital) — Series A
- Circle Ventures — Series A
- Dialectic AG — Series A
- Figment Capital (https://capitalatlas.ai/funds/figment-capital) — Series A