Share this article
Router Protocol Raises $4.1M to Bridge EVM and Non-EVM Chains
“The need of the hour is the ability for these to talk to each other,” said CEO Ramani Ramachandran.
By Ian Allison
Updated May 11, 2023, 5:52 p.m. Published Dec 10, 2021, 10:00 a.m.
Make us preferred on Google
Router Protocol, a project aimed at connecting multiple blockchains, has raised $4.1 million in a funding round that was backed by Coinbase Ventures.
The funding round was also supported by Bison Ventures, DeFi Capital, Polygon, QCP Capital, Shima Capital, Wintermute and the Woodstock Fund. Router Protocol raised $485,000 in a seed funding round last year.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
As the blockchain universe matures, liquidity is at risk of being fragmented across a raft of chains such as Algorand, Avalanche, Polygon, Solana and Terra.
“Rapid growth of various blockchains means the need of the hour is the ability for these to talk to each other through bridges and other forms of connectivity,” said Router Protocol CEO Ramani Ramachandran. “Our unique selling point is that we can do EVM (Ethereum Virtual Machine) and non-EVM chains, as well as layer 1 and layer 2 networks.”
Read more: ‘Bridge Szn’ Continues With $2M Raise for Stablecoin Connector Symbiosis
When it comes to liquidity bridges, the “big elephant in the room” is security, Ramachandran said. Hacks are almost a rite of passage in the sector, and any system that sets out to connect networks is only as secure as the weakest link in the protocols on either side.
Router Protocol’s precaution is to connect only major, well-established blockchains. It has also completed “five or six audits” on its code.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Tokenization firm Securitize reports 841% revenue growth as it prepares to go public
With crypto prices and crypto-related stocks in the midst of a major selloff today, Securitize SPAC merger partner Cantor Equity Partners II is higher by 4.4% on the news.
What to know:
- Securitize continued toward an ultimate public listing via a SPAC merger with Cantor Equity Partners II (CEPT).
- The company reported an 841% year-over-year increase in revenue to $55.6 million for the nine months ended September 2025.
- CEPT stock gained 4.4%, outperforming sharply lower crypto markets.
Top Stories
