Funding Obtained: $12 Million Series A by Union Labs for Integration of Cosmos, Ethereum, and Bitcoin Infrastructure
Union Labs, a web3 company, has announced its plans to launch an interoperability mainnet in the third quarter of 2025. The mainnet, aimed at simplifying the movement of assets between various blockchains, is set to connect Ethereum, Cosmos, Bitcoin, Solana, Berachain, Celestia, and Avalanche [1].
The company has already raised $16 million in its Series A round, following a $4 million seed round in 2023. The new funding will be used to expand the core teams, advance partner integrations, and accelerate ecosystem growth [1].
The road to the mainnet launch includes several phases. The Voyager v2 upgrade will introduce modularity and support for Move environments, enabling broader asset management and near-instant cross-chain transfers. Testnet 9 will deploy advanced features like intents for generalized settlement and state lenses for cross-chain querying. Pre-launch verification will involve prover network stress testing and a bug bounty to identify vulnerabilities and improve security [1]. Finally, the Mainnet Launch will connect the listed blockchains, marking the live production network.
In addition to the aforementioned blockchains, Union Labs plans to expand its product offering to include Solana, Berachain, Celestia, Avalanche, and more. The funding round was co-led by Gumi Cryptos Capital and Longhash Ventures, with participation from Borderless Capital, Blockchange VC, Foresight Ventures, LBank, Gate Ventures, Veris Ventures, Polygon, Celestia, Movement Labs, Avail, OG Labs, Berachain Communities, and other angel investors [1].
Karel Kubat, the founder of Union Labs, commented that the new fundraising is reflective of the team's ongoing dedication to reducing fragmentation by bringing secure, sovereign, and seamless interoperability to Web3 [1]. The new interoperability mainnet aims to support interoperability between major blockchains and emerging ecosystems, bridging the gap and fostering a more connected Web3 landscape.
[1] Union Labs. (2023). Union Labs Announces $16 Million Series A Round for Cross-Chain Interoperability Layer. [Press Release]. Retrieved from https://unionlabs.io/union-labs-announces-16-million-series-a-round-for-cross-chain-interoperability-layer/
- In the upcoming Mainnet Launch, Union Labs, a web3 company, aims to connect Ethereum, Cosmos, Bitcoin, Solana, Berachain, Celestia, and Avalanche, bridging the gap and fostering a more connected Web3 landscape for finance, investing, and technology news.
- As Union Labs prepares for the Mainnet Launch, the new funding will be used to advance partner integrations and expand the core teams, potentially leading to significant advances in cross-chain asset management, technology, and finance.
