TechFlow reported on March 4 that, according to The Block, cross-chain interoperability protocol Across Protocol has raised $41 million through the sale of its ACX token to expand its capabilities in connecting Ethereum with Layer 2 networks. The funding round was led by Paradigm, with participation from Bain Capital Crypto, Coinbase Ventures, Multicoin Capital, and angel investor Sina Habinian.
Hart Lambur, co-founder of the Risk Labs Foundation, revealed that the fundraising was completed in two phases during the second and fourth quarters of 2024. Investors' token unlocks will occur over multiple one-year lock-up periods, extending through November 2025. Across Protocol is an intent-based interoperability protocol that enables users to initiate cross-chain transactions via a single request.
