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FilSwan raises $3m to simplify dApp development 

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FilSwan has announced a $3 million fund to facilitate the development of Web3 dApps. The funds are targeted at supporting the company’s product development and user acquisition process.

FilSwan is a company in the Filecoin Orbit Program that’s focused on providing cross-chain infrastructure for Web3 projects. Part of its products includes data integration, computing, bandwidth services and payment in the Web3 space.

Charles Cao, founder of FilSwan, explained that the fund was raised to support its new project that is built on the Polygon mainnet. The project is the latest of FilSwan which is integrated with Chainlink and further plans to come on the BNB Chain.

“Integrated with Chainlink’s external adapter and price feed technology, the product enables the user to pay IPFS/Filecoin storage by Polygon stablecoin. It successfully lowers the operation bar and simplifies the dApps development process in Web3 storage,” FilSwan said.

FilSwan also added that Aptos and Sui are part of its integration roadmap that will allow developers access to a multichain storage system.

As part of FilSwan’s commitment to the industry, they are also incubating a decentralized data science project, Lagrange DAO.

FilSwan in the Binance ecosystem 

In May 2022, FilSwan joined the Binance Labs incubation program, season 4 as a startup and has also had the support of the Filecoin Foundation, and Chainlink.

Further details from the team highlighted that the $3 million fund was heralded by top Web3 VCs such as Binance Labs and SNZ holdings. Others include Waterdrip Capital, FBG Capital, Protocol Labs, Unicorn Hunter Ventures, Chain Capital, LD Capital, Cabin VC, Betterverse Dao, and DAO Kondr VC. 

Web3 funding in 2023 seems to be rising with projects like FilSwan, Studio Sortium, and Animaco brand leading the way.

Read also;

How crypto VCs will invest in 2023

FTX impacted Mojito Markets halts operations; seeks emergency funding to continue 

 

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