Web3 startup Cosmic Wire raises $30M from Solana and Polygon


Web3 infrastructure project Cosmic Wire closed a $30 million seed round led by Solana and Polygon.

The startup provides AI-based developer tools (SDKs) for creating metaverses.

Cosmic Wire also offers a range of blockchain solutions, including analytics services, digital identity, smart contract utilities, and marketplaces.

The main infrastructure of the project will be built in the Solana ecosystem.

“Their SDK solutions significantly reduce development time for high-quality browser-based e-commerce metaverses for digital products, CDNs, and payment solutions,” said Jonny Lee, Head of Entertainment at the Solana Foundation.

Cosmic Wire uses funding to accelerate the development of a more decentralized, transparent and secure digital ecosystem with a focus on privacy.

The project was also chosen as a member of the Google Cloud program for the development of the Web3 direction. The search giant’s initiative will help Cosmic Wire gain “exclusive access to personalized resources, including credit for a two-year period.”

Recall that in the second quarter of 2023, the volume of investments in Web3 startups decreased by 76%, to $1.8 billion. The total number of transactions also decreased by 51%, from 659 to 322.

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