Particle Network Hits $25M Funding with Support from MH Ventures, Gumi & More

June 20th saw Particle Network announce an all-new $15 million funding round, bringing the total-raised by the project to a full $25 million. Though the precise valuation was not disclosed, a swathe of tier-one crypto investors participated. 

These include…

• MH Ventures
• SevenX Ventures
• Gumi Cryptos
• Spartan Group
• Morningstar Ventures
• HashKey Capital

… along with several others.

The above VCs join an already prestigious cap table, which features the likes of Animoca Brands, LongHash, and even Alibaba.

Particle Network: Under the Hood

Particle’s core vision is to create a seamless blockchain future, wherein friction at the end-user level is entirely eliminated. Only in a world free of complex Web3 operations and cross-chain friction will the blockchain sector truly be able to onboard the masses.

As clarified in the project’s own blog post, Particle’s journey has so-far consisted of three phases…

Wallet Abstraction (WA): This was the project’s first offering and its modular WA stack has already been integrated by 900+ dApps and now secures more than $2 billion in user assets.

Account Abstraction (AA): This was an expansion of Particle’s existing tools which saw the project achieve an incredible 17 million users and process over 10 million AA transactions.

Chain Abstraction (ChA): Perhaps the most exciting phase of Particle’s journey, this step sees the project launch its own L1 around which the cross-chain future can revolve. It implements two key principles in ‘universal liquidity’ and ‘universal gas’. 

The project’s most recent blog post also boasts some impressive statistics for Particle’s testnet, which is already live, clocking over 114 million transactions across approximately 1.3 million accounts.

Particle’s hotly-anticipated mainnet launch is also expected to arrive some time in the next three months.