LightLink Raises $6.2M in Funding as Crypto VC Activity Shifts

LightLink, an Ethereum layer-2 blockchain, has secured $6.2 million in funding during an extended seed round, aiming to propel its vision of a web3 ecosystem accessible to millions. The capital infusion will also drive the advancement of proprietary technologies for enabling gasless transactions.

Participating in the extended seed round are prominent VC firms like MH Ventures and NxGen, alongside contributions from individual crypto investors. LightLink boasts approximately 115,000 daily transactions and has forged a strategic partnership with Animoca Brands.

Among its upcoming initiatives is the launch of its LL token, backed by a liquidity bootstrapping pool. The success of LightLink's seed round coincides with a resurgence of VC interest in the crypto sector.

VC funding in crypto projects has surged by 38% since Q4 2023, with a 49% increase in the number of crypto projects receiving VC backing. This upward trajectory in VC funding reflects the trend observed in Q4 2023, signaling a positive outlook for sustained growth and innovation in the crypto industry.