Neutron, a cross-chain smart contract platform built on Cosmos, raised $10M in a Seed Round led by Binance Labs and CoinFund, with participation from Delphi Ventures, LongHash Ventures, Semantic Ventures, and Nomad Capital. This follows Neutron’s mainnet launch in May 2023.
Neutron uses CosmWasm to bring smart contracts to Cosmos. The blockchain benefits from Interchain Security, meaning that Neutron is secured by the validator set of the Cosmos Hub rather than a separate validator set that is specific to the Neutron blockchain. Avin Dutheil, a core contributor of Neutron, said that they are working on developing the Atom Economic Zone, which allows users in the Cosmos ecosystem to securely interact across different blockchains.
Neutron is expected to boost the Cosmos Hub with new dapps. Expect to see many deep dives from Ruceto on projects in the Cosmos ecosystem (see our Injective report here).
The full list of the institutional investments that Ruceto tracked last week is below. Links to the target company website, investment announcement, and token info are provided via hyperlinks on the Target Name, $ Raised, and Token columns respectively.
| Target Name | $ Raised | Lead Investors | Description | Token |
|---|---|---|---|---|
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Superscrypt and Spartan |
Developing an AI-powered search engine for crypto where LLMs (Large Language Models), similar to ChatGPT, connect to real-time access from the web |
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Wintermute |
Decentralized exchange for digital assets |
VRTX |
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PreSeed Ventures, Morph Capital, The Aventures Fund, Funfair Ventures and Delta Blockchain Fund |
Offer a variety of investment vehicles and staking platforms for institutional investors |
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Shima Capital |
A non-custodial, liquid marketplace for users to access yield opportunities in crypto |
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Founders Fund |
Developing infrastructure for DeFi that can automate the movement of concentration liquidity for LPs when prices move |
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Binance Labs and CoinFund |
Cosmos blockchain that enables developers to launch smart contracts for interchain DeFi |
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Kwee Liong Tek |
Licensed and fully regulated by the Monetary Authority of Singapore to conduct payment services including digital payment token services |
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What’s happening at Ruceto?
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Disclaimer: The content presented is for informational purposes only and does not constitute financial, investment, tax, legal, or professional advice. Nothing contained in this report is a direct or indirect recommendation or suggestion to buy, sell, make, or hold any investment, loan, commodity, security, or token, or to undertake any investment or trading strategy with respect to any investment, loan, commodity, security, token, or any issuer. Ruceto does not guarantee the accuracy, completeness, sequence, or timeliness of any of this content. Please see our Terms of Service for more information.