Hyperbridge, a secure and highly scalable blockchain interoperability protocol, has raised over $5 million – $2.5 million in its seed round and $2.8 million in its public sale. The seed round was led by the Polkadot Ecosystem Fund (a joint venture by the Web3 Foundation and venture capital firm Scytale Digital). All these came on the heels of its crowd loan, which saw the project raise $2.7 million to secure a parachain slot, making it the most successful in recent times.
Hyperbridge is built and actively maintained by Polytope Labs, an organisation at the cutting edge of blockchain research and development co-founded by ex-Ethereum and Polkadot core devs Seun Lanlege and David Salami. It is an innovative blockchain technology that enables seamless messaging between blockchains without reliance on trusted parties or introducing new security assumptions.
Co-founder Seun Lanlege said about Hyperbridge, “Bridges are only as secure as their authentication mechanisms. Traditional bridges that rely on trusted offchain parties for authentication have seen over $2B lost to exploits. Hyperbridge disintermediates these middlemen by relying on cryptographic finality and storage proofs for cross-chain message authentication, providing a level of security equivalent to the blockchains it connects.”
“Hyperbridge represents a significant step towards a cross-chain future, embodying the highest standards of security, scalability, and innovation,” said Fabian Gompf, CEO of Web3 Foundation. “By building on Polkadot’s robust framework, Hyperbridge empowers the ecosystem with verifiable, unstoppable interoperability, setting a new benchmark for secure cross-chain solutions.”
Touted as the world’s first verifiable multichain bridge, the cryptographically secure cross-chain messaging protocol currently allows for the secure exchange of data and assets between over 12 chains, including Arbitrum, Base, BNB chain, Ethereum and Polkadot. Hyperbridge has also partnered with some of the most popular and talented teams committed to building for Web3, including Bifrost, Gnosis, Astar, ZkVerify and Sonieum, with more in the works.
About Hyperbridge
Hyperbridge is a coprocessor for secure, verifiable interoperability powered by consensus and storage proofs. It acts as the HTTPS of blockchain interoperability, providing developers with onchain and off-chain SDKs for securely sending cross-chain messages (POST requests) and reading on-chain storage (GET requests).
The project has raised about $5,550,000 in funding, with backing from the Polkadot ecosystem fund, Web3 Foundation and Scytale Digital.
Team
Name:
Seun Lanlege
Role:
Lead scientist & Co-Founder
Bio:
Seun Lanlege is the Co-founder of Polytope Labs. He previously worked as a core developer at Parity Technologies GmbH, where he contributed to projects such as parity-ethereum, Substrate, and Polkadot. After leaving Parity, he joined Composable Finance where he led the research & development efforts that successfully bridged Polkadot to Cosmos using the IBC framework. Currently, Seun leads research and development at Polytope Labs, focusing on interoperability, privacy, and scalability.
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Name:
David Salami
Role:
Lead Engineer & Co-Founder
Bio:
David Salami is the Co-founder and Engineer at Polytope Labs. David’s earlier role as a Senior Blockchain Engineer at Composable witnessed his pivotal contributions to Composable’s cross-chain technology, Centauri. Prior to that, he leveraged his expertise at Webb as a Senior Blockchain Engineer, contributing to the DKG Substrate protocol and its Substrate runtime implementation. David currently works as a lead engineer at Polytope Labs building interoperability infrastructure for multi-chain environments.
Socials: X (formerly known as Twitter), LinkedIn
