Wormhole, an interoperable blockchain protocol, has raised $225 million in a seed fund from prominent investors in the crypto industry. This fundraising round is the largest in the Web3 ecosystem this year and has increased Wormhole's market valuation to $2.5 billion. The investors in this round include Brevan Howard, Coinbase Ventures, Multicoin Capital, Jump Trading, ParaFi, Dialectic, Borderless Capital, Arrington Capital, and undisclosed entities. Wormhole has also announced the launch of Wormhole Labs, an independent blockchain company that will contribute to the success of the ecosystem. The allocation of the funding between Wormhole Labs, Wormhole, and the Wormhole Foundation was not disclosed. Despite facing challenges, including a hacking incident in 2022, Wormhole remains focused on facilitating efficient blockchain-to-blockchain communication.
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