Cata Labs raises $4M for its Catalyst crypto bridge

Cata Labsa startup that develops a inter-chain bridge named Catalysthas just collected 4.2 million dollars from Spartan Group, Circle, HashKey and other major investors.

Cata Labs believes that the future lies in the modular blockchains, chains that are easier to deploy and more customizable and scalable. The startup is building Catalystan open source protocol described as a inter-chain bridge allowing assets to be transferred between different modular blockchains and liquidity hubs such as Ethereum and Cosmos.

And its bridgewhose testnet is expected to be released by the end of the year, has attracted several well-known crypto VCs. The Singaporean Spartan Group has indeed just conducted a round of financing of 4.2 million dollars for Cata Labs.

Robot Ventures, Maven11, Alchemy Ventures, HashKey Capital, Superscrypt and Circle’s investment arm have also put their hands in the pot, according to a statement.

For Paul Almasi of Alchemy, the development of modular blockchains Will inevitably accelerate the creation of applications. “A new connectivity infrastructure will be necessary for the transfer of value permissionless between these chains,” he explained, noting that Catalyst was “specifically designed for this modular future”.

With the proliferation of rollups and application-specific chains, liquidity fragmentation is becoming a significant issue and we have yet to see a unified liquidity layer that allows users to exchange native assets seamlessly and efficiently between chains […] Catalyst is in an excellent position to solve this problem,” said Kelvin Koh, Spartan’s director.

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