Anoma Foundation Raises $26M to Simplify Exchanging Cryptocurrencies

Polychain Capital led the round, which valued Anoma at $260 million.

Nov 17, 2021 at 5:00 p.m. UTC
Updated Nov 17, 2021 at 8:01 p.m. UTC

The Anoma Foundation, a blockchain technology company, has raised 24 million Swiss francs (US$26 million) in a funding round at a valuation of 240 million Swiss francs ($260 million). The funds will help advance the Anoma protocol, a proof-of-stake blockchain that allows traders to conduct private, asset-agnostic transactions.

  • Polychain Capital led the round with participation from Electric Capital, Zola Global, CMCC, Maven 11 Capital and Fifth Era, among others.
  • The Anoma Foundation previously raised six million Swiss francs ($6.75 million) in a January funding round that was also led by Polychain.
  • “We didn’t raise from random people for a reason. It wasn’t so much about the capital. It’s also about getting competent people closer involved in Anoma,” Anoma co-founder Adrian Brink told CoinDesk.
  • The Anoma protocol is a layer one, or base, blockchain that helps traders securely move and convert assets without needing a base currency. For example, if someone wanted to pay a friend in bitcoin but the friend wanted to receive ether, the Anoma protocol would automate the exchange at the best market rate.
  • Anoma launched its first test network, or testnet, earlier this month, the first milestone in its public testnet roadmap.
  • “The next couple of months are very much going to focus on testnet and releasing the testnets in a successive fashion with more and more features added to them so that the general public can start playing with them,” said Brink.
  • Anoma will also work to scale out the user interface teams to start building out wallets and integrations, said Brink.
  • Anoma was co-founded by Brink, Awa Sun Yin and Christopher Goes, who met while working at blockchain technology firm All in Bits, also known as Tendermint, the company that built the Cosmos Network.

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Brandy covers crypto-related venture capital deals for CoinDesk.