Owlto Finance secures new funding at $150m valuation

Cross-chain interoperability protocol Owlto Finance has raised new funding in a round backed by Matrixport, bringing its valuation to $150 million.

Owlto Finance, a cross-chain bridging service developed as Ethereum’s layer-2 aggregation solution, has raised new capital in a funding round backed by Matrixport, bringing its valuation to $150 million.

Launching in 2023, Owlto Finance provides support for over 45 networks across the Bitcoin, Ethereum, and Solana ecosystems. While the size of the funding was not disclosed, it appears the proceeds will help the startup expand its network support and advance a new interoperability protocol that will use an “AI agent” to generate recommendations for cost-effective bridge paths, according to a press release seen by crypto.news.

Owlto Finance is also developing a modular interoperability protocol and an omnichain liquidity solution that will enable smart contracts to facilitate non-custodial cross-chain transactions without the need to distribute their own multi-chain liquidity.

The protocol received an AA rating from blockchain auditor CertiK, making it one of the “highest-rated projects in the interchain bridge category.”

This funding follows Owlto Finance’s $8 million strategic funding round two months ago, led by Bixin Ventures and CE Innovation Capital, with participation from Hailstone Labs, Presto, Skyland Ventures, GSR, Blocore, Kroma, and SNZ Capital.