Union, a cross-chain zero-knowledge settlement layer, has raised $12 million in Series A funding, the company announced on November 19, 2024. The funding round, led by Gumi Cryptos Capital and Longhash Ventures, brings the startup’s total fundraising to $16 million.
The investment will support Union’s mission to reduce blockchain fragmentation by enabling secure, trustless asset transfers across different blockchain networks. Investors include Borderless Capital and founders from blockchain projects Polygon, Movement, and Berachain.
Key Details
Union’s technology uses zero-knowledge (ZK) proofs to facilitate cross-chain interactions without relying on third-party intermediaries. The startup’s flagship product is an Ethereum to IBC (Inter-Blockchain Communication) bridge that enables liquidity transfers between Cosmos and other blockchain ecosystems.
“We are committed to reducing fragmentation by bringing secure, sovereign, and seamless interoperability to Web3,” said Karel Kubat, Union’s founder. The company is currently integrated with blockchain networks including Polygon, Berachain, Arbitrum, and Movement Labs.
Technical Innovation
The startup is addressing blockchain bridging challenges by:
- Eliminating the need for multi-signatures or multi-party computation
- Enabling users to generate their own proofs
- Supporting cross-chain asset and NFT transfers
Miko Matsumura, Managing Partner at Gumi Cryptos Capital, noted the significance of Union’s approach: “Union has a world-changing combination of deep technical expertise and pragmatic solutions to solve blockchain fragmentation.”
Future Outlook
Emma Cui, Managing Partner at LongHash Ventures, emphasized the company’s potential: “We believe the future is inevitably multi-chain, and Union will play a pivotal role in bringing composability to thousands of blockchain networks.”
Union plans to use the funds for core team expansion, partner integrations, and ecosystem growth. The company is also making progress in the Bitcoin ecosystem, working to enable asset transfers across Bitcoin Layer 2 networks.
Interested parties can learn more about Union at union.build or follow the company’s updates on social media.
Funding Details:
- Series A Funding: $12 million
- Total Funding to Date: $16 million
- Lead Investors: Gumi Cryptos Capital, Longhash Ventures
- Additional Investors: Borderless Capital, blockchain founders
For more information, visit union.build or follow Union on X and Discord for updates on upcoming milestones.
