Polychain Capital and Dragonfly Capital led a $35m series B funding round in Axelar.

Polychain Capital, an investment firm, and Dragonfly Capital, a crypto-centered investment firm, led a $35m series B funding round in Axelar, a universal interoperability platform, with participation from North Island Ventures, Rockaway Blockchain Fund, Cygni Capital, Lemniscap, Olive Tree Capital, Blockchange Ventures and Node Capital. "While Web 3 continues to grow, connecting users and providing frictionless experiences across multiple blockchains is critical. Axelar's interoperability stack is uniquely positioned to connect blockchains and decentralized applications in the ecosystem,” Olaf Carlson-Wee, Polychain Capital founder and CEO.