Blockchain startup LightLink raises $6.2m as cryptocurrency VC activity shifts

Blockchain startup LightLink has raised $6.2 million in funding during an extended seed round, as venture capital (VC) activity in the cryptocurrency space continues to grow. The funding was secured from both institutional and individual investors. LightLink, which operates on the Ethereum layer-2 blockchain, decided to extend the seed round due to high demand, ultimately raising an additional $1.7 million. The company plans to use the funding to support its vision of a web3 ecosystem accessible to millions, while advancing its proprietary technologies for gasless transactions. LightLink’s CEO expressed excitement about the investment, emphasizing the company’s commitment to practical blockchain solutions. This funding round coincides with a surge in VC interest in the crypto space, with venture capital funding in crypto projects increasing by 38% since Q4 2023, according to data from Crypto Koryo. Prominent VC firms such as Andreessen Horowitz and OKX Ventures have led major investment rounds in the first quarter of 2024, signaling positive growth and innovation in the crypto industry.