Middleware layer "Supra" announces completion of over $24 million in private round funding, launches community airdrop countdown event
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Middleware layer "Supra" announces completion of over $24 million in private round funding, launches community airdrop countdown event
Supra's cryptography-based solution is a new approach to enhancing speed and security while protecting end users.
Navigating Web3 tides with focused insights
Supra is advancing Web3 by building next-generation oracles, cross-chain communication protocols, and cutting-edge consensus mechanisms to create a more secure interoperability infrastructure for the future of blockchain. Supra’s oracle network has already achieved 1.5 million price feed updates per day.
Raising over $24 million in its private sale round reflects strategic partners’ recognition of Supra’s transformative research in Web3 infrastructure development. Supra’s team of PhD researchers has made significant contributions to academic fields such as secure multi-party computation, distributed consensus, and oracles, publishing multiple peer-reviewed whitepapers. The team is led by Dr. Aniket Kate, one of the creators of KZG Polynomial Commitments, widely recognized in the industry for his impactful work on Ethereum L2 scaling. Under his leadership, Supra’s technological innovations will set new middleware protocol standards for the blockchain industry.
On the funding front, Supra has received backing from numerous globally renowned digital asset funds and organizations, including Animoca Brands, BCW, Coinbase Ventures, FiveT Fintech (formerly Avaloq Ventures), Galaxy Interactive, Hashed, HashKey, Huobi Capital, MARBLEX, No Limit Holdings, Prosus Ventures, Razer.com, Republic, Shima Capital, Signum Capital, SMO Capital, Sound Ventures, Sublime Ventures, UOB Asset Management (United Overseas Bank), and Valor Equity Partners.
Given that token distribution decentralization profoundly impacts Supra’s long-term decentralized governance, over 500 funds, node operators, and angel investors have already joined to achieve decentralized network ownership and strategically dispersed token supply.
Additionally, Supra’s community airdrop countdown initiative—Countdown to Blast Off—is now in full swing! Designed with GameFi mechanics and interactive experiences, this campaign rewards community members for their support while offering them opportunities to learn about the project’s technology and earn $SUPRA tokens by exploring Supra’s latest features. To date, more than 230,000 KYC-verified participants have joined, with the airdrop event scheduled for early 2024 and expected to attract over 500,000 players!
Looking Ahead
Joshua Tobkin, Co-Founder and CEO of Supra, expressed excitement about the launch, stating it will deliver provably fair, high-performance middleware services to Web3 developers and end users. He emphasized: “We are thrilled to have earned the support of some of the most important names in the blockchain industry.”
Tobkin added: “Building a network of strategic partnerships is crucial for our future growth. These collaborations will play a vital role in enabling urgent security upgrades for oracles, further strengthening DeFi security.”
He continued: “Recently, too many people have suffered massive financial losses due to DeFi hacks or vulnerabilities. We firmly believe that Supra’s cryptography-based solutions represent a new approach to enhancing speed and security while protecting end users. Fair competition cannot be achieved until we secure oracles and cross-chain communications—historically the most vulnerable components in Web3. Ensuring middleware security is therefore essential to unlocking blockchain’s full potential.”
Animoca Brands
Yat Siu, Co-Founder and Chairman of Animoca Brands, said:
“Oracles are critical connectors that enable data portability and interoperability across blockchains. That’s why we’re excited to support Supra as foundational tech infrastructure empowering a truly open metaverse.”
Republic
Alex Ye, Advisor at Republic, said:
“Before Supra’s deep research into oracle problems and L1 consensus, the crypto industry had not truly committed to solving oracle challenges. While others entered earlier, their latency issues remain unresolved. Supra is poised to fulfill the promise of better oracles. Whether sourcing on-chain or off-chain data, oracles are key to cross-chain infrastructure. Supra unlocks immense potential for cross-chain liquidity and multi-chain Web3 applications. I sincerely hope Supra becomes a landmark solution for both traditional financial institutions and Web3 developers—just as AWS, IBM, and Google became synonymous with Internet infrastructure in the Web2 world.”
Hashed
A spokesperson from Hashed Ventures said:
“Oracles are currently the most common attack vector, and it’s critical for the entire industry to balance trade-offs and improve this key infrastructure. We’re excited to be part of Supra’s journey as they enhance speed and security through sophisticated random models—a solution that will significantly advance Web3 adoption. Supra has the potential to redefine oracle capabilities and unlock incredible new application possibilities. We’re committed to exploring new frontiers together with the team.”
Sound Ventures
Maaria Bajwa, blockchain investor at Sound Ventures (Ashton Kutcher & Guy Oseary’s team), said:
“Supra and its exceptional team have built a powerful oracle over the past few years—one that scales flexibly with an expanding ecosystem. Its unique node architecture achieves breakthroughs in speed and security beyond existing oracles while maintaining high throughput. This efficiency is crucial for driving Web3 adoption. With robust oracles like Supra, DeFi users will seamlessly lend across chains and assets, expanding market opportunities. For developers, this translates into a lower-cost, more developer-friendly ecosystem blueprint.”
Prosus Ventures
A spokesperson from Prosus Ventures said:
“As DeFi applications continue to expand, there’s a pressing need for new multi-chain oracle solutions. We believe Supra’s technology will become a vital component of the Web3.0 DeFi ecosystem, enhancing security while achieving transaction finality in seconds and enabling cross-chain interoperability. We have full confidence in this highly knowledgeable team and believe this ambitious organization can realize visions that other oracle solutions cannot achieve technically.”
Huobi Capital
A spokesperson from Huobi said:
“Huobi Capital is pleased to invest in Supra as they develop and build next-generation oracle infrastructure. We believe this battle-tested, outstanding team will deliver a best-in-class oracle solution with higher throughput and enhanced security, providing superior products for users. Combined with the founders’ strong track record and visionary outlook, we look forward to supporting this ambitious organization.”
FiveT Ventures
A spokesperson from FiveT Ventures (formerly Avaloq Ventures) said:
“FiveT Fintech is an early investor in web3 and financial services infrastructure, closely collaborating with the Avaloq ecosystem of over 150 financial institutions. We are honored to participate in Supra’s strategic funding round. We’ve observed growing demand for off-chain data access and believe Supra, with its fast, reliable, and highly decentralized solution, will emerge as a true game-changer.
After getting to know the team, we are impressed by their deep industry understanding and rapid execution. For FiveT Fintech, Supra represents a strategic addition to our portfolio of key web3 infrastructure investments, and we’re excited to build close ecosystem collaboration with them.”
HashKey
Harper Li, Investment Manager at Hashkey Capital, said:
“Supra is defined as an IntraLayer with native oracle, native VRF, and native automation functions. The native oracle, the earliest product, has already been tested on over 20 testnets. The native VRF, incorporating DKG technology, addresses public output and latency issues prevalent in other randomness solutions. In the near future, native automation will enable on-chain automated execution, opening vast possibilities when combined with account abstraction.”
Sublime Ventures
Musthafa Ahmed, General Partner at Sublime Ventures, said:
“Supra initially aimed to create a next-generation decentralized cross-chain oracle solution, but its evolution has gone far beyond that. As a pioneering IntraLayer solution in the Web3 space, Supra stands as an industry leader thanks to its exceptional and unique tech stack. It also serves as a cross-chain interoperability hub supporting all major blockchain ecosystems.”
About Supra
Supra aims to build low-latency interoperability infrastructure to bridge missing Web3 functionalities in traditional blockchain designs. As a vertically integrated IntraLayer™, Supra enables shared security paradigms across multiple middleware services, including secure on-chain handling of external data, cross-chain consensus via bridgeless HyperNova, automation, and VRF. Through thousands of hours of research and simulation, Supra’s technological breakthroughs are resolving the oracle dilemma and optimizing network performance across security, throughput, finality time, composability, and programmability. Supra employs an academic approach in development, reflecting its commitment to advancing Web3 performance and security. This is demonstrated through rigorous research, transparency, and strict peer review for every design and product release.
Supra will release additional technical documentation on its solutions in the coming months. To learn more about Supra’s project updates and participate in future community airdrop programs, visit the campaign website.
You’re also welcome to register for our whitelist to receive early access to alpha-level information.
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