The Analog project, aiming to establish a universal cross-chain infrastructure, has secured $16 million in seed funding.
Tribe Capital led the round, with participation from other prominent investors such as NGC Ventures, Wintermute, GSR, NEAR, Orange DAO, Samara Asset Group, and former Coinbase CTO Balaji Srinivasan. To secure funding, the project utilized Simple Agreements for Future Tokens (SAFT).
As a result, the project’s valuation now stands at $120 million. Analog was founded in 2021 by investor and blockchain developer Victor Young and entrepreneur Sanchal Ranjan.
The startup’s core team is headquartered in Bangkok and Zurich. The project has achieved significant progress, including the development of Timechain, a blockchain platform written in the Rust language, a standardized data transfer protocol, Analog Watch, a user-friendly product for developers, and Timegraph SDK and API, which enables cross-network connectivity for applications.
According to Young, Analog shares similarities with solutions from Axelar and LayerZero, but with a strong focus on catering to developers.
