Polymer Labs secures $23M to bring IBC to Ethereum

Polymer Labs, a modular IBC-based networking protocol, has secured a $23 million Series A co-led by Blockchain Capital, Maven 11 and Distributed Global. 

Other investors, including Coinbase Ventures, Placeholder, Digital Currency Group, North Island Ventures and Figment Capital also participated in the round.

Polymer can be described as a modular layer-2 network that employs Cosmos SDK’s IBC protocol, OP stack’s settlement functionality and Eigenlayer’s data availability layer. It is the brainchild of Bo Du and Peter Kim.

After being in the blockchain industry for a few years, the Polymer founders experienced firsthand how difficult it was to build interchain products. In the…

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