Polygon and Solana Foundation lead $30 million seed round in crypto startup

Startups • July 19, 2023, 5:53PM EDT

Published 1 minute earlier on

Quick Take

Cosmic Wire endeavors will use the funds to improve its ecosystem while helping people to exert better control over their data and online interactions.

Cosmic Wire, a web3 company focused on developing technology that enables "seamless data transfer and interoperability across different blockchains," raised $30 million in a seed round of financing led by Solana Foundation and Polygon.

The company, selected to participate in Google Cloud's web3 startup program, hopes to use the investment to improve its ecosystem while helping users to exert better control over their data and online interactions, according to a statement. The program will provide Cosmic Wire with "customized resources" and "entry into Google's web3 ecosystem," the company also said.

Cosmic Wire considers its proprietary technology to be "the backbone operating system for the web3 ecosystem."

Based in Miami, Cosmic Wire is led by founder and CEO Jerad Finck.

About Author

RT Watson is a senior reporter at The Block who covers a wide array of topics including U.S.-based companies, blockchain gaming and NFTs. Formerly covered entertainment at The Wall Street Journal, where he wrote about Disney, Netflix, Warner Bros. and the creator economy while focusing primarily on technological disruption across media. Previous to that he covered corporate, economic and political news in Brazil while at Bloomberg. RT has interviewed a diverse cast of characters including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers and convicted criminals. Holds a master's degree in Digital Sociology.