Axelar Network Valuation, Funding & Investors
Axelar Network is valued at $1B as of February 2022.
Last Axelar Network valuation
$1B
Series B · Feb 2022
Last Axelar Network funding round
$30M
ICO · Mar 2025
Cumulative funding Axelar Network raised
$94M
across 4 funding rounds
Key investors in Axelar Network
DCVC
Coinbase Ventures
Collaborative Fund
Polychain
Alameda Research
Naval Ravikant
About Axelar Network
Axelar Network is a decentralized interoperability platform launched in 2020 that connects disparate blockchain ecosystems, applications, and users through a suite of protocols, tools, and APIs. Developers leverage it to enable cross-chain composability, liquidity transfer, and dApp functionality across Cosmos, EVM, and other chains from a single integration point.
Founded
2020
HQ
WaterlooWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Usage-based
Valuation
$1B (Feb 2022)
Axelar Network Valuation
Axelar Network is currently valued at $1B, based on its Series B in February 2022.
The $35M round was led by Alameda Research.
Axelar Network valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Series B | $1B |
Axelar Network Funding History
Axelar Network has raised a total of $94M across 4 funding rounds.
Axelar Network's first fundraising round was a $4M seed round in November 2020. The most recent completed round was a $30M ico round in March 2025.
Axelar Network funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2025 | ICO | Arrington Capital (lead); Electric Capital (lead); Distributed Global; C2 Ventures; Laser Digital; WAGMI Ventures; Plassa Capital | $30M | - | - |
| Feb 2022 | Series B | Alameda Research (lead) | $35M | $1B | Axelar Network is a universal decentralized interoperability network connecting blockchain ecosystems, applications, and assets, enabling scalable cross-chain communication. It provides infrastructure for developers to build omnichain dApps, addressing key blockchain interoperability challenges. The Series B round on February 15, 2022, raised $35 million, bringing the company's post-money valuation to $1 billion USD. Investors included Dragonfly Capital, Polychain Capital, North Island Ventures, Rockaway Blockchain Fund, Cygni Capital, Lemniscap, Olive Tree Capital, Blockchange Ventures, Node Capital, and angels like Waikit Lau and Gokul Rajaram. Alameda Research participated but was not the lead; leads were Polychain, Dragonfly, and North Island Ventures per some sources. Funds from the round supported Axelar's mainnet rollout, which began in late January 2022 with validator onboarding, wallet integrations, monitoring tools, and relay infrastructure. It followed a $25 million Series A in mid-2021. Early dApps like Satellite (Beta) enabled asset transfers across Ethereum, Terra, Avalanche, and Moonbeam. CEO Sergey Gorbunov emphasized using the capital to grow the network and lay Web3 foundations. Polychain's Olaf Carlson-Wee highlighted Axelar's role in frictionless multi-chain experiences. Axelar continued fundraising post-2022, including a $30 million Series B extension in March 2025 and earlier ICO in September 2022, reaching over $140 million total raised by 2025. The company is headquartered in Toronto and has made investments like in Printr. |
| Jul 2021 | Series A | Polychain (lead) | $25M | - | Axelar Network is a universal decentralized interoperability network connecting blockchain ecosystems, applications, and assets to enable cross-chain communication and asset transfers. The company raised $25 million in a Series A funding round on July 15, 2021, led by Polychain Capital with participation from Galaxy Digital, Dragonfly Capital, North Island Ventures, Robot Ventures, Collab+Currency, and others including Do Kwon. The funds were intended to expand protocol adoption, strengthen network security, and scale the blockchain interoperability network. A subsequent Series B round in February 2022 raised $35 million at a $1 billion valuation from investors including Polychain, Dragonfly, and North Island Ventures to support mainnet rollout, validator onboarding, and dApp launches like Satellite for cross-chain asset transfers across Ethereum, Terra, Avalanche, and Moonbeam. The project later conducted an ICO raising $50.1 million in September 2022 and another Series B of $30 million in March 2025 led by Arrington Capital and Electric Capital, with total funding reaching $143.85 million and a $1 billion valuation noted as of February 2022. |
| Nov 2020 | Seed | Binance X; North Island Ventures; Divergence Ventures; Waikit Lau; Coinbase Ventures; Naval Ravikant; Lemniscap; DCVC; Collaborative Fund; Cygni Capital | $4M | - | Axelar Network raised $3.75 million in a seed round on November 13, 2020, from investors including Binance X, Coinbase Ventures, Collaborative Fund, Cygni Capital, DCVC, Divergence Ventures, Lemniscap, Naval Ravikant, North Island Ventures, and Waikit Lau. The funding supported the development of its decentralized interoperability fabric connecting blockchain ecosystems, applications, and users. Axelar provides a uniform solution for cross-chain communication, enabling dApps to integrate with the full blockchain ecosystem using a protocol suite and APIs. Founded by MIT graduates and Algorand team members, Axelar focuses on scalable cross-chain communication to address interoperability challenges in blockchain. The company is based in Toronto, Canada, and has since raised additional rounds, including a $25 million Series A in 2021 and a $35 million Series B in 2022 that achieved a $1 billion valuation. |
Who has invested in Axelar Network?
19 investors have backed Axelar Network across its funding rounds, including DCVC, Coinbase Ventures, Collaborative Fund, Polychain, Alameda Research and Naval Ravikant.
Lead investors include Arrington Capital, Electric Capital, Alameda Research and Polychain.
Axelar Network Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| -- | 1 | Participant | Nov 2020 | |
 Los Angeles, CA | 1 | Participant | Mar 2025 | |
| New York City, NY | 1 | Participant | Nov 2020 | |
| New York City, NY | 1 | Participant | Mar 2025 | |
 Hong Kong | 1 | Lead | Feb 2022 | |
| San Francisco, CA | 1 | Participant | Nov 2020 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Waikit Lau |  Kuala Lumpur | 1 | Participant | Nov 2020 |
| San Francisco, CA | 1 | Participant | Nov 2020 | |
 Zurich | 1 | Participant | Mar 2025 | |
| New York City, NY | 1 | Participant | Mar 2025 | |
| San Francisco, CA | 1 | Participant | Nov 2020 | |
 George Town | 1 | Participant | Nov 2020 | |
| United States | 1 | Participant | Nov 2020 | |
This data is available for Pro users. Sign up to see all 19 Axelar Network investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by Axelar Network
Axelar Network has invested in 2 companies to date.
Latest investment by Axelar Network was on March 27th 2024. Axelar Network invested in Unstable Protocol in their $3M Seed round.
Latest Investments by Axelar Network
| Description | - | D8X is a decentralized exchange platform offering institutional-grade perpetual futures trading on blockchain networks. Headquartered in Singapore, it employs advanced financial engineering for on-chain derivatives including BTC, ETH, and altcoin pairs with up to 50x leverage. Features encompass order book liquidity, MEV protection, and sub-second execution via Layer 2 scaling. Launched in 2023, D8X targets professional traders with tools like portfolio margining and API connectivity. |
| HQ Country | - |  |
| HQ City | - | Seoul |
| Deal Date | 27 Mar 2024 | 4 Aug 2023 |
| Round | Seed | Pre-seed |
| Raised | $3M | $2M |
| Investors | Artichoke Capital; Atlcoin Sherpa; Adil Virani; DCF GOD; Blockchain Founders Fund; Dev Chart; Assouline Ventures; Agnostic Fund; Black Edge Capital; Collin Goltra; Block Builders | Cogitent Ventures; Polygon Ventures; Pragma Ventures; SuDo Research Labs; G1 Ventures; Veris Ventures; SwissBorg; CryptoDiscover |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Axelar Network investments and their VC round multiples. Start Free Trial | ||
Axelar Network Competitors
Axelar Network competitors include listed companies like HashKey Holdings and OSL Group, and private ones like Andalusia Labs, Bitfury Group, CoinBridge and Endless.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Abu Dhabi | Private | - | - | $1B | - | |
 Amsterdam | Private | - | - | $1B | - | |
 Herzliya | Private | - | - | $1B | - | |
| Hong Kong | Private | - | - | $1B | - | |
| Hong Kong | Publicly listed | $92M | ($109M) | $884M | - | |
| Hong Kong | Publicly listed | $62M | ($48M) | $1.2B | 11.3x |
Axelar Network Public Comps
Axelar Network is still privately-owned, but its public comps include HashKey Holdings, BitGo Holdings, OSL Group, Indokripto Koin Semesta, Rhino Bitcoin, Securitize, Stewards, Coincheck Group, Bakkt and Chaince Digital.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $92M | ($109M) | 6.4x | - | (5.4x) | - | |||
| $16B | ($9M) | 0.1x | 5.5x | (125.1x) | 125.4x | |||
| $62M | ($48M) | 16.6x | 11.3x | (21.7x) | (23.2x) | |||
| $16M | $7M | 36.9x | - | 81.1x | - | |||
| $478K | ($417K) | 1242.8x | - | (1423.4x) | - | |||
| $62M | ($34M) | 25.5x | 22.2x | (46.0x) | (37910.8x) | |||
| - | - | - | - | - | - | |||
| $3.1B | $354K | 0.2x | 0.2x | 1312.3x | (189.0x) | |||
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Common questions about Axelar Network
| When was Axelar Network founded? | Axelar Network was founded in 2020. |
| Where is Axelar Network headquartered? | Axelar Network is headquartered in Waterloo, Canada. |
| Is Axelar Network publicly listed? | No, Axelar Network is a private, VC-backed company. |
| What is Axelar Network's valuation? | Axelar Network was last valued at $1B in its Series B in February 2022. |
| How much funding has Axelar Network raised? | Axelar Network has raised $94M across 4 funding rounds. |
| What was Axelar Network's last funding round? | Axelar Network's last funding round was a $30M ico round in March 2025, led by Arrington Capital and Electric Capital. |
| Who are Axelar Network's investors? | Axelar Network's investors include Binance X, Distributed Global, North Island Ventures, C2 Ventures, Alameda Research, Divergence Ventures, Waikit Lau, Coinbase Ventures, Laser Digital, WAGMI Ventures and 9 others. |
| Which companies are comparable to Axelar Network? | Companies comparable to Axelar Network include Andalusia Labs, Bitfury Group, CoinBridge, Endless, HashKey Holdings and OSL Group. |
| How many companies has Axelar Network invested in? | Axelar Network has invested in 2 companies, including Unstable Protocol and D8X. |
| What was Axelar Network's last investment? | In March 2024, Axelar Network invested in Unstable Protocol's $3M seed round alongside Artichoke Capital, Atlcoin Sherpa, Adil Virani and 8 other investors. |
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