Moondance Labs Raises $6 Million to Boost Tanssi Protocol Growth

Moondance Labs Raises $6 Million to Boost Tanssi Protocol Growth

The team behind Tanssi appchain infrastructure protocol, Moondance Labs, have secured $6 million in a strategic fundraising round headed by venture capital companies Scytale Digital, KR1, and SNZ. Several well-known blockchain venture capital firms, including Arrington Capital, Borderless Capital, Hypersphere, and Blockchain Founders Fund, as well as angel investors like Gavin Wood, contributed to the round.

George McDonaugh, Managing Director and Co-Founder of KR1, commented:

“The Moondance Labs team has made great progress over the past year, delivering on Tanssi’s roadmap to become the go-to tool for appchain developers. We are very excited to support them on their journey as they expand Tanssi from Polkadot and beyond. Tanssi will play a critical role for appchains by allowing developers to leverage its efficiency and scalability benefits easily.”

The funds will go toward growing the Moondance Labs team and developing Tanssi, which helps to accelerate and simplify appchain deployments. The protocol provides developers with the necessary infrastructure tools to launch chains quickly and effectively.

Tanssi streamlines appchain deployment, cutting months-long procedures down to a matter of minutes. Once a chain is connected to Tanssi, it automatically evolves into modular appchain, opening up a permissionless, developer-friendly environment and including essential functions like cross-chain connectivity, wallets, reliable data, block creation, and oracles.

Appchains’ tenfold growth indicates their enormous potential, but historically, financial and technological obstacles have impeded their development. These barriers have been successfully addressed by Tanssi, enabling the introduction of appchains for a range of applications, including NFTs, DeFi, gaming, real estate, and green energy.

The accompanying graphic highlights only a few of Moondance Labs’ numerous noteworthy accomplishments to far, including the $6 million capital raise.

Francisco Agosti, Co-founder of Tanssi and CEO of Moondance Labs stated:

“The team is excited to have closed this round; now, we can focus on accelerating Tanssi’s development. Since the project’s inception, our goal has been to offer the best possible developer experience for deploying Layer 1s, without compromising on security or decentralization. We’ll continue to push forward toward that vision. I’d also like to extend my thanks to all the round’s participants for their continued support.”

Tanssi is getting ready to launch a testnet campaign with incentives that will recognize and honor the creative initiatives and active community that make up its ecosystem. The dynamic campaign includes a number of off-chain and on-chain challenges designed to encourage more in-depth engagement with Tanssi’s technology and the wide variety of dApps that have been implemented on it.

With rewards for active involvement, the initiative, which targets both developers and supporters, intends to increase engagement by providing a means for the community to test and contribute to the network’s resilience and capabilities.

Join Tanssi’s communities and sign up for our email newsletter to get updates on campaign specifics and how to get involved.

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