Solayer raised $12 million in a seed round led by Polychain Capital, with other investors including Big Brain Holdings, Hack VC, Nomad Capital, Race Capital, ABCDE and Maelstrom, the family office of Arthur Hayes.
Co-founder Rachel Chu revealed that the round closed in May and was structured as a Simple Future Equity Agreement (SAFE) with token warrants. Chu added that the round valued Solayer at $80 million.
With the new funding in place, Solayer plans to expand the team, integrate the new protocol and prepare for the second phase of the platform. The project plans to hire more employees in areas functional of business such as growth, institutional partners and engineering. Solayer also plans to launch its native token in the future, which Chu said is "under design".
Solayer completes $12 million seed round financing
2024-08-27 19:04:47
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