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Side Protocol - Pre-Seed
Overview
Funding Date
July 21, 2023
Financing amount
$1.5M
Valuation
$30M
Catagory
About Side Protocol - Pre-Seed
Side Labs, the startup behind the interconnected liquidity provider Side Protocol, raised $1.5 million in pre-seed funding.The funding was done through a simple agreement for future tokens sale, in which the token's valuation totaled $30 million. Participants include Hashkey Capital, KR1, Continue Capital, Symbolic Capital, Informal Systems, Dora Ventures, Charles Lu, Harry Halpin, Eric Chen, Mirza Uddin, Siddhartha Dutta and Vincent Niu. Side Labs intends to use the fundraise to expand its team and guarantee adherence to legal and compliance standards while building out the Mesh Liquidity Network, which aims to eliminate bridges and intermediary tokens for cross-blockchain asset exchange through a network of liquidity hubs.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | Hong Kong | 2018 | 175 | contact@hashkey.capital | ||
| Fund | United Kingdom | 2016 | 24 | -- | ||
| Fund | United States of America | 2016 | 18 | pima@continue.capital | ||
| Fund | Unknown | -- | 22 | -- | ||
| Corporate | Canada | 2019 | 5 | -- | ||
| Fund | Unknown | -- | 2 | -- | ||
| Angel Investor | Unknown | -- | 2 | -- | ||
| Angel Investor | Unknown | -- | 1 | -- | ||
| Angel Investor | United States of America | -- | 5 | -- | ||
| Angel Investor | United States of America | -- | 5 | -- |
Founders & Team
Shane Qiu
Company Profile / Project Introduction
Side Protocol is a distributed mesh liquidity network system that utilizes innovative inter-blockchain asset exchange application protocols. Unlike liquidity hubs, Side Protocol aims to decentralize liquidity between diverse blockchain networks in a bridgeless manner while maintaining interconnectivity. At the core of the Side Protocol lies SIDE, a robust EVM-compatible layer-1 infrastructure that serves as the system's liquidity engine. SIDE is responsible for fostering interconnectivity and ensuring sufficient liquidity between different blockchain networks. Additionally, SIDE is a developer-centric layer-1 blockchain built to empower innovation with result-driven incentives.