OneBalance, a new developer platform designed to eliminate cross-chain UX friction, has raised $20 million in a Series A round, the company said in a press release Wednesday.
OneBalance, a promising startup revolutionizing the developer experience for seamless cross-chain applications, has announced the successful completion of its Series A funding round. The company, which aims to simplify and enhance the way users interact with the metaverse and Web3, disclosed that it has secured an impressive $20 million in the round.
The investment was spearheaded by cyber•Fund and Blockchain Capital, with significant contributions from Bybit's Mirana Ventures and L2IV.
OneBalance was founded by key contributors from Flashbots, the renowned Ethereum research and development startup focused on mitigating the negative effects of maximal extractable value (MEV), and a former Coinbase (NASDAQ:COIN) engineer. The startup's mission is to provide developers with a comprehensive toolkit for building cross-chain applications with ease.
The OneBalance Toolkit empowers developers to integrate an unparalleled level of functionality into their applications with a single click. This includes seamless execution of cross-chain transfers, efficient token swaps, and optimal yield optimization strategies. Already capable of facilitating native Bitcoin to EVM chain swaps, OneBalance is expanding its integration capabilities to Solana in the upcoming stage.
Highlighting the importance of a user-friendly experience, especially for newcomers to the crypto space, Gosselin further explained, "There is so much growth in the stablecoin world and that is bringing a lot of people onchain but they are not crypto native, and their expectation is to do one click operations. Until now there hasn't be a way to build products that enable that."
Among the early adopters and partners of OneBalance's groundbreaking technology are DSX, Vooi, Spritz, and Nuvolari. These companies are at the forefront of harnessing OneBalance's capabilities to develop innovative products and services that push the boundaries of Web3.
This latest fundraising milestone follows a successful $5 million seed round in 2024. That round saw participation from prominent names in the industry, including Consensys, Wintermute, Anagram, Cobie, and several angel investors.
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