Owlto Finance secures new funding at $150m valuation

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

Owlto Finance, a cross-chain bridging service developed as Ethereum‘s layer-2 roll-up solution, has attracted fresh capital in a funding round backed by Matrixport, boosting its valuation to $150 million.

Launched in 2023, Owlto Finance boasts support for more than 45+ networks within the Bitcoin, Ethereum, and Solana ecosystems. Although the size of the funding wasn’t disclosed, it’s understood that the proceeds will help the startup expand its network support as well as advance a new interoperability protocol, which will leverage “artificial intelligence agent” to generate suggestions for cost-effective bridging paths, according to a press release seen by crypto.news.

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

The protocol has achieved an AA rating from blockchain auditor CertiK, placing it among the “highest-rated projects in the cross-chain bridge category.”

The 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.