Blockchain Interoperability Protocol t3rn Closes $6.5 Million in Strategic Round Led by Polychain Capital

t3rn, a Polkadot-based blockchain interoperability protocol, raised $6.5 million in a strategic funding round. Polychain Capital led the round, with Huobi Ventures, Figment Capital, Blockchange Ventures, Lemniscap and others participating. The funding was reportedly secured via a simple agreement for future tokens (SAFT). The fund raised will be used to add more staff to the engineering function and continue building its protocol.

t3rn started in 2020 to offer cross-chain transactions across Polkadot's ecosystem and beyond. It is reported that t3rn is under development as a parachain in the Polkadot ecosystem. It will soon be launched on mainnet, supporting blockchains across consensus mechanisms and programming languages, including Ethereum Virtual Machine, Solidity, and Ink.

Previously, t3rn closed a $1.35M seed round in June 2021 led by Polychain Capital with participation from IOSG Ventures, Digital Finance Group, and others.