Ripple, North Island Ventures back $6 million round for cross-chain platform Squid
The Block
Cross-chain infrastructure provider Squid has raised $6 million in strategic funding to develop a new consumer-facing product.Summary
Squid, a cross-chain platform originally incubated within the Axelar ecosystem, has secured $6 million in strategic funding led by North Island Ventures, with participation from Ripple, Dialectic, and Borderless. This latest round brings the company's total funding to $13.5 million. Since its 2023 launch, Squid has processed over $6 billion in volume across 100+ networks. The capital will support the development of a new consumer-facing product that expands upon its existing bridge-and-swap infrastructure, aimed at simplifying cross-chain asset movement.
(Source：The Block)