December 3, 2024
Union, a cross-chain protocol designed for messaging, intents, and chain abstraction, has successfully secured $12 million in a Series A funding round. The funding, led by investors Gumi Cryptos and LongHash VC, raises Union's total capital raised to $16 million. This funding round marks a milestone for Union as it continues to strengthen its position as an interoperability solution capable of supporting thousands of blockchain networks.
Launched with the goal of enhancing cross-chain interactions, Union provides an environment for dApps to operate across various ecosystems. The protocol's infrastructure supports diverse virtual machines, including EVM, SVM, BitVM, MoveVM, and altVMs. This compatibility ensures that Union is the only solution capable of operating securely and efficiently across all blockchain environments without requiring reliance on centralized entities or third-party intermediaries.
Union's architecture leverages consensus verification paired with a hyper-efficient zero-knowledge (ZK) protocol to achieve subsecond transfer times between chains. This design is critical, as current cross-chain solutions often face limitations related to performance and security, typically leading to slow, permissioned systems that compromise user experience and expose participants to significant risks.
About Union
Union is a blockchain protocol that improves cross-chain interactions with a scalable, secure architecture. Supporting multiple virtual machines, Union enables dApps to communicate across ecosystems with minimal trust. Its use of consensus verification and zero-knowledge technology ensures fast, secure transactions, providing developers with a reliable solution for blockchain interoperability.
Website:Â https://union.build/
X: @union_build
About Gumi Cryptos
Gumi Cryptos
Gumi Cryptos is a venture capital firm that invests in blockchain and crypto projects at various stages. Founded by Gumi Inc., it focuses on accelerating the growth of technologies within the blockchain space. The firm has made investments in projects that contribute to decentralized technologies.
Location: Silicon Valley
Website:Â https://www.gumi-cryptos.com/
LongHash VC
LongHash VC is a global venture capital firm with a focus on blockchain and Web3 startups. Established to promote the development of transformative technologies, LongHash VC has a history of investing in projects that push the boundaries of blockchain innovation.
Location: Singapore
Website:Â https://www.longhash.vc/
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