Analog, a Web3 platform at the forefront of omni-chain interoperability, is thrilled to announce the completion of its latest funding round. This capital raise, amounting to 16 million USD, marks a significant milestone in the advancement of Web3 data accessibility and cross-chain communication, which is a key focus of the blockchain project.
The idea behind Analog was born from the belief that there will be many differentiated Layer-1 and Layer-2 ecosystems in the future, and the recognition that there is an inherent lack of tooling, education, and developer-focused infrastructure to onboard developers onto multiple blockchain platforms – all of which hinder the growth of the cross-chain space. To remedy these shortcomings, the Analog team has conceived and set about building a powerful suite of products and underlying technologies.
A main component of Analog, The Timechain, is a Rust-based blockchain that hosts a number of validators, called Time Nodes and Chronicle Nodes, that validate and relay messages. It enables different applications to connect to different blockchains.
Built on the Timechain is Analog Watch, which has already launched on its partner Testnet. This is an intuitive developer toolkit designed to both index and send on-chain data to any other chain, in a fashion that combines those of The Graph and Chainlink. As more Layer-1s and Layer-2s emerge on the landscape, the Watch brings crucial on-chain event data, pricing, or any other types of structured and unstructured data to a much wider variety of blockchains, enabling not only DApps to benefit from the network effects of other ecosystems, but providing the data to make it much easier for new L1s and L2s to bootstrap their ecosystems.
Analog is also launching an SDK for general message passing, allowing programmatic omni-chain interactions from any subset of blockchains, as well as a cross-chain automation product for cross-chain smart contract executions.
Ultimately, Analog wants to provide all the building blocks needed for a cross-chain app developer to launch their application. No other comparable project has such a diverse range of product suites dedicated to lowering the barrier for cross-chain developers.
An impressive array of venture capital firms, crypto projects and angel investors participated in the funding round – signaling strong confidence in the company’s vision and technology.
Among them are notable names including Balaji Srinivasan, Samara Asset Group, Tribe Capital, NEAR, Outliers Fund, Black Label Media, Orange DAO, Mask Network, Wintermute, Presto Labs, GSR, NGC Ventures, gmjp web3 Fund, Ocular Fund, Global Coin Research, Alumni Ventures, DWF Labs, Backer DAO and C-Suite from OMG Network, Benqi Finance and Quantstamp.
“The steadfast support from our partners and investors underscores the industry's recognition of the importance of redefining cross-chain communication. This substantial investment will fuel our ongoing efforts to develop cutting-edge solutions that transcend current limitations, fostering a new era of innovation and collaboration in the decentralized space. We are grateful for those in our corner and excited about the shared opportunities that lie ahead as we continue to break new ground in the blockchain landscape," said Victor Young, Founder of Analog.
The funding milestone has also been well received by the project’s investors. Boris Revsin, Managing Director of Tribe Capital, stated, “We are thrilled to support Analog in their efforts to revolutionize interoperability in the blockchain industry. Their continued commitment to excellence gives us confidence that they will build the solutions that set the stage for the next generation of DApps.”
"It's with great enthusiasm that Orange DAO has chosen to invest in Analog’s trailblazing initiative – their unique approach to blockchain interoperability and data has the potential to transform the ideals of blockchain technology," added Don Ho, Founder and General Partner at Orange DAO.
Be among the first to experience Analog’s Timechain and the tools that power up the next generation of omnichain DApps.
In addition to the funding milestone, Analog has set in motion its Launch Partners Program, a program specifically targeted to grow the mindshare and slice of pie of cross-chain projects by showcasing how very different blockchain verticals can benefit from being cross chain, with confirmed collaborations with leading tech innovators such as Meson Network, Dmail, Mask Network, StationX, and Belong. These partnerships are poised to leverage Analog’s cutting-edge technology to create new synergies and solutions within the blockchain ecosystem.
Having added several senior members from Polkadot, Chainlink and Cosmos to the team to drive the execution of its vision, Analog is opening Testnet registration for its two flagship products, The Watch and the General Message Passing Protocol. The public incentivized Testnet is scheduled to go live in Q2 2024.
Analog is also building a series of flagship applications that are uniquely enabled by Analog's combination of General Message Passing, automation and Watch technologies to bring traction and mindshare to the Analog ecosystem.
Registrations for Analog’s upcoming public testnet are now open at: https://www.analog.one/testnet
Analog is dedicated to advancing omni-chain interoperability in the blockchain space. A novel Layer-0 blockchain for event data in Web3 powered by its own Proof-of-Time consensus mechanism, the platform’s suite of protocols is designed to streamline access to information and facilitate seamless cross-chain communication.
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