Kylin Network Successfully Closes Seed Round Fundraising as a Data Infrastructural Component of Polkadot
Kylin Network aims to build a cross-chain platform powering the data economy on Polkadot. It will be the data infrastructure for the future DeFi and Web 3.0 world powered by Polkadot and hopes to provide validated, reliable, secure, cost-effective, and easily-coordinated data sources and data analytics.
“ I think what we are building at Kylin will finally allow the renaissance in the data infrastructural components of blockchain that we need to accelerate toward a future DeFi and Web 3.0 world; we are forming the fibre that connects the real world to the blockchain and we can’t wait to see the universe of imaginative use cases that will result.”
— — Dylan, CEO of Kylin Network
As a project that is supported by Web3 Grants Program, Kylin Network completed its seed fundraising in November, receiving enormous support from nine institutional investors on capital, project advisement, tech development, future parachain slot auction, and more.
The entire Kylin team is humbled by this level of institutional support and awareness in our project and we will continue to work toward what we and our investors believe will be nothing short of a revolutionary goal: powering the data economy on Polkadot.
The 21-person team and advisor consist of technical, marketing and financial talent coming out of top blockchain projects, schools and employers including Columbia University, Wharton, John Hopkins, Beam, TomoChain, Harmony, JP Morgan and Credit Suisse.
“Kylin is one of the sole practical projects built on Polkadot today. With a strong tech approach together with a sensible user-experience, Kylin will definitely disrupt the DeFi and data market with its smart design.”
— — Beni Issembert, Head of Advisory Board/CMO of Concordium
“Kylin is developing the next generation blockchain data aggregation and analytics solutions, where its Oracle is but a single component to the overall vision. A key challenge for existing oracles is being able to operate on multiple chains simultaneously in a cost-effective manner. Kylin’s development on Polkadot should allow for efficient participation across chains that both adds new value and is competitively priced.”
— — Kyn Chaturvedi, Advisory Board Member/BD Officer of TomoChain
Currently, Kylin Network is expediting tech development with full-force, with the first PoC product to be rolled out very soon.
Our rationale behind seed investor mix
When we opened up ourselves to the world, we had a level of investment interest that we were honestly quite taken aback by. Although this is a good problem to have, it underscored the need for the Kylin Team to look out for the long-term health of the project and take investment from a carefully selected group of investors that would help us achieve that mandate.
Therefore, it was important that we selected a mix that worked in complementarity with one another, including strong prospects for future partnerships within their portfolios, previous expertise in the polkadot/substrate ecosystem, or marketing/pr help and clout.
Seed Funding Partners
Digistrats invests in the blockchain space including pre-ICO utility tokens, future STOs, tokens that are already and special situations. It supports top crypto projects both financially & through high touch value add giving them a tactical advantage.
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SigNum Capital is a Singapore-based firm that exclusively consults in Blockchain-enabled companies. Its mission is to realize the future of the Blockchain economy by consulting in game changing projects and companies. SigNum Capital participates in pre-sale stages of Token Generation Events and Equity investments.
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PNYX Ventures is a digital asset management firm specializing in blockchain capital markets. PNYX has doubled down on its investment into the Polkadot/Substrate ecosystem supporting a handful of selected projects including ours as one of the few (but pioneering) funds specifically focussed on Polkadot.
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The mission of AU21 Capital is to back the most brilliant founders in blockchain. It is a hybrid venture and hedge fund that invests in high growth blockchain and AI companies.
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Moonrock Capital is a Blockchain Advisory and Investment Partnership based in London and Hamburg that is dedicated to helping young startups and more established projects accelerate their growth and thrive in this industry.
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CMS is a principal investment firm focused on making investments across the crypto asset ecosystem. It looks to deploy capital in liquid and illiquid crypto tokens, as well as, equity stakes in selective companies. CMS has also taken a very active investment approach within the Polkadot/Substrate ecosystem.
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ZMT Capital is a Silicon Valley based VC firm investing in disruptive technology and business models. It has deep roots in areas including Fintech, Blockchain, Mobile Internet, AI, Hardware, AR/VR, and IT Infrastructure.
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This firm was founded in 2015 as a venture capital fund. Blockchain technology became its main focus in mid 2017. Tenzor Capital provides strategic investment for projects that enrich the blockchain ecosystem and is an experienced firm that gives the project excellent coverage in markets that may sometimes be elided by the crypto world: Russia, Eastern Europe, etc. In addition, Tenzor will help leverage an amazing developer network to which it has access.
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Rarestone Capital is a newly formed Venture Capital & Private Equity firm that has started to build a very strong name for itself in the blockchain-funding space. We will make use of their extremely strong network in advancing our cause.
Featured Portfolio: Terra Virtua, UNION, Bonded Finance
Finally, we are very honored to partner up with these distinguished investors and grateful for the enormous support they offer to the project in so many ways!