Interoperability startup Analog has announced the completion of a $5M private raise from leading VCs and angel investors. The news means that Analog’s total funding to date now stands at $21M and leaves it primely positioned to press ahead with its public token sale and mainnet launch.
The investment, which entailed backing from heavyweights such as Tribe Capital, Balaji Srinivasan, Wintermute, and Mask Network, provides a substantial runway for Analog’s next phase of growth. Having been incubated by Binance and supported by Foresight Ventures, Near Foundation, and numerous other venture partners, Analog is well-equipped to accelerate development of its core technologies including its General Message Passing (GMP) protocol.
Making the Case for Analog
The blockchain landscape has never been more alive – or more fragmented. Siloed networks, incompatible protocols, and limited cross-chain functionality to name but a few bugbears hinder the seamless flow of assets and data. Analog believes it has the solution to many of these problems, or at the very least a way to mitigate them and it’s clearly not the only one to hold that view judging by the backing its new funding round received.
Analog’s completion of the latest $5 million funding round places the startup at a $300M FDV based on the expected valuation once its token launches. At the heart of Analog’s solution is a chain-agnostic infrastructure built to unify disparate blockchain networks. This will power the creation of omnichain dapps that operate fluidly across EVM- and Polkadot-compatible chains, with support for Solana and TON on the horizon.
By abstracting away the complexities of multi-chain communication, Analog’s suite of tools lets developers focus on building feature-rich applications while ensuring flawless cross-chain interactions. This will make it much easier to port dapps over to new networks, and also to add support for such chains into existing dapps. A task that would have once taken weeks of coding and testing can now be done in a day.
Mo’ Messages, Mo’ Liquidity
General Message Passing (GMP), one of the primary components of Analog’s technology, serves as the conduit for data and asset transfers between blockchains. Instead of relying on a patchwork of bridges or wrapped tokens, GMP empowers developers to craft true omnichain user experiences, from decentralized exchanges to cross-chain NFT platforms.
The efficiencies that Analog’s interoperability framework will bring to the fold can be seen in Zenswap, a decentralized exchange constructed with Analog’s proprietary tech. Zenswap supports asset swaps across multiple chains, utilizing USDC-based liquidity routing for networks like TON, Solana, and Bitcoin. Beyond Zenswap, Analog has sealed partnerships with prominent projects such as Rarible, Pixelport, and Belong Network, showing the level of interest in its interoperability tech.
With more than 50 projects already building or committed to building on Analog’s protocol and a testnet that attracted over 345,000 participating accounts, the stars are aligning for Analog. For years, blockchains have been spinning away from one another due to a host of competing languages, VMs, and incompatible protocols. It will take time to reverse this process and allow all chains to communicate as one. But Analog believes it can do it – and so does its growing list of investors and partners.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2025/01/analogs-5m-raise-brings-web3-interoperability-closer-to-reality