Axelar Network announced that it has closed a $35 Million Series B financing round. This will increase its market capitalization to over $1 billion. The round included Dragonfly Capital (Polychain Capital) and North Island Ventures (among others).

The raise succeeds a previously undisclosed round led by the head of Crypto.com Capital, Bobby Bao in late-November 2021, a nine-investor $25 million Series A raise led by Polychain Capital, and participated by Mike Novogratz’s Galaxy Digital in mid-July 2021, in addition to two seed rounds across the year of 2020.