Cancore Completes $7.2M Seed Round on Canton Network-Based Cross-Chain Platform

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Cancore, a cross-chain trading platform on the Canton Network, has raised $7.2 million in a seed round via SAFT for its CNRX token, with a $60 million fully diluted valuation. Paper Ventures and dao5 led the round, joined by ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk. On-chain data shows the round began in June, with formal fundraising in July and finalization in mid-September, according to Cancore CEO Wasif Rashid. The project plans a network upgrade to support its cross-chain operations.

Odaily Planet Daily report: Cancore, a cross-chain trading platform built on the Canton network, has completed a $7.2 million seed round funded through a Simple Agreement for Future Tokens (SAFT), corresponding to a fully diluted valuation (FDV) of $60 million for its planned CNRX token.

This funding round was led by Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk, with Paper Ventures and dao5 securing the largest shares. Wasif Rashid, co-founder and CEO of Cancore, said the company began engaging with investors in June, officially launched the fundraising in July, and closed the round in mid-September. (The Block)

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