Boba Network Closes $45M Series A Round at $1.5b Valuation

Boba Network, the Ethereum Layer-2 scaling solution, has secured $45 million in Series A funding, valuing the project at $1.5 billion with participation from Crypto.com, Huobi and BitMart, among others. The funds raised will be used for development, scaling the Boba team, and building the ecosystem through developer programs such as the Boba Accelerator, grants, and investments. Boba Network is an Ethereum Layer-2 scaling solution and hybrid compute platform designed to help users increase transaction speed and reduce fees. Its hybrid computing allows smart contracts to call any external Web2 API to execute complex algorithms.