- Polygen raised $2.3 million in an investment round.
- Many prominent investors joined the round.
- Polygen goes by ‘the world’s first truly decentralized launchpad without gatekeepers’.
Polygen steps up as the platform that is the world’s first truly decentralized launchpad without gatekeepers. Just recently, the project closed a $2.3 million investment round. Polygen sets itself apart from other launchpads by letting anyone launch a project.
In detail, Polygen will act as a permissionless launchpad that will fund innovation without the presence of fees. Above all, it aims to drive change for the better within the industry. Polygen believes that to fuel innovation in this sector, one must remove all gatekeepers and intermediaries.
To add on, the platform also stresses the importance of transparency. In fact, it is an essential characteristic. Especially when it is paired with post-launch support and automated processes. As for the fundraising round, Polygen caught the attention of many high-profile investors.
Leading the charge is SL2 Capital. Following after are 18 Ventures, Axiom, AU21, Pluto, Polygon Syndicate, Twin Apex Capital, and ZBS Capital. The round also saw participation from many other investors like Amplio Capital, Biconomy, Extra Watts, GSR, Iconomy, and Insignius Capital.
In addition, other investors like Keys Investment, LD Ventures, LucidBlue Ventures, Lumos labs, Maven Capital, Moonboots Capital, and NetZero Capital joined the round. Finally, Sky Man Ventures, Storna Finance, and Woodstock Capital Fund LLP, helped conclude the round.
Meanwhile, the CEO of Polygen — Mike Hepburn comments:
I am extremely excited to be part of the Polygen team. Our industry-first, decentralized launchpad with no gatekeepers, is generating a lot of excitement in the crypto ecosystem. Furthermore, I believe Polygen represents a step-change in launchpad fundraising with Projects able to raise funds with complete freedom to innovate and experiment.
The Polygen project firmly believes that projects within the blockchain industry should not have to bow to the interests and demands of those who run the launchpad. Instead, they believe that it should be the other way around.
Thus, Polygen works to prioritize the interests of the project and its investors. Therefore, the project completely eliminates permissioned gatekeeping. In turn, this makes it the ‘Uniswap of launchpads’. Overall, Polygen will provide an unparalleled, democratized approach for accessing launchpad services.
With this approach, Polygen can help all projects. For instance, developers can simply list their projects and use event-based raise tokens over permanent tokens. This approach could even work for other project round models such as seed, public, or private funding.
All in all, Polygen’s primary selling point is that every step of the launchpad process takes place on-chain. This provides optimal transparency. Furthermore, the launchpad supports all types of raise. Finally, since any developer or team can list their venture, they can gain a wider reach for potential investment opportunities. Lastly, it addresses the growing need for innovation in the industry.