Cancore Completes a $7.2M Seed Round Led by Paper Ventures and Dao5

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Cancore, a cross-chain trading platform on the Canton network, has closed a $7.2 million seed round via a SAFT for its CNRX token, at a $60 million fully diluted valuation. The round was led by Paper Ventures and Dao5, with support from ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk. On-chain records show fundraising began in July, with outreach starting in June and the round finalized in mid-September. The platform plans to use the funds for product development and a major network upgrade.

ChainThink reports that on October 28, according to The Block, Cancore, a cross-chain trading platform built on the Canton network, has completed a $7.2 million seed funding round.

This round of financing was conducted through a Simple Agreement for Future Tokens (SAFT), corresponding to a fully diluted valuation of $60 million for the planned issuance of CNRX tokens.

Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk participated in this funding round, with Paper Ventures and dao5 receiving the largest shares.

Wasif Rashid, Co-founder and CEO of Cancore, said the company began engaging with investors in June, launched its fundraising in July, and completed it in mid-September.

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