Polygen Raises $2.3 Million in Latest Investment Round to Launch Permissionless, Community-first Launchpad
The world’s first decentralized launchpad without gatekeepers Polygen recently announced it has raised $2.3 million in its latest investment round.
Polygen Raises $2.3 Million in Fundraising Round
Polygen, a decentralized, innovative, and permissionless launchpad today announced the closure of its latest funding round, raising $2.3 million from several reputed investment firms.
Polygen differentiates itself from other launchpads in that it allows anyone to launch a project due to its permissionless nature. In addition, Polygen does not charge any fees from projects looking to launch on the platform.
Essentially, Polygen removes all intermediaries and gatekeepers that sometimes prohibit promising projects from raising funds on launchpads. Polygen aims to raise the standard in the blockchain launchpad space by fostering transparency, automation, and offering unparalleled post-launch support.
In its latest funding round, Polygen raised $2.3 million.
Notably, the funding round was led by SL2 Capital, followed by 18 Ventures, Twin Apex Capital, AU21, Polygon Syndicate, Axiom, ZBS Capital, and Pluto. Other participants include Iconomy, Insignius Capital, NetZero Capital, Maven Capital , Woodstock Capital Fund LLP, Sky Man Ventures, Lumos labs, Moonboots Capital, Storna Finance, Extra Watts, LD Ventures, Keys Investment, LucidBlue Ventures, Biconomy, GSR, and Amplio Capital.
Commenting on the development, a representative from Insignius Capital said:
“Insignius Capital is excited to embark upon this journey with Polygen. The current lack of transparency and decentralization shouldn’t be the norm for launchpads. As such, we are committed to supporting Polygen in bringing decentralization and efficiency back to the launchpad sphere. We look forward to a positive collaboration with the highly regarded Polygen team.”
Prioritizing the Projects’ and Investors’ Interest
Polygen understands that rather than succumbing to the whims of the launchpad teams, it should be the project and the community’s interests that must be prioritized. Accordingly, Polygen has taken a new approach to launchpads in that it eliminates the role of gatekeepers that typically decide what projects get to raise funds on the launchpad.
By removing the middlemen, Polygen can be considered the Uniswap of launchpads as virtually anyone can list a project on the platform and leverage its launchpad services.
Projects can tap several benefits by following Polygen’s egalitarian approach to launchpads.
For instance, developers can choose to list their projects and use event-based tokens instead of permanent tokens. Such an approach would suit all project fund rounds, including seed, private, and public funding.
Polygen ensures that all transactions related to the launchpad process are stored on-chain to ensure complete transparency and accountability. At the same time, the platform ensures it doesn’t stifle innovation as it promises to let any team or developer to list their venture with zero fees.
Mike Hepburn, CEO of Polygen, said:
“I am extremely excited to be part of the Polygen team. Our industry-first, decentralized launchpad with no gatekeepers, is generating a lot of excitement in the crypto ecosystem. Furthermore, I believe Polygen represents a step-change in launchpad fundraising with Projects able to raise funds with complete freedom to innovate and experiment.”