Odaily News Blockchain interoperability protocol Analog completed a $5 million financing round at a valuation of $300 million before its token issuance. Angel investors including Gate Ventures, BackerDAO, Foresight Ventures, Black Label Ventures, the venture capital arm of film production company Black Label Media, and Frax Finance founder Sam Kazemian, Black Label Media's three co-founders Molly Smith and twin brothers Thad and Trent Luckinbill participated in the investment.
Analog co-founder Victor Young said that the new round of financing brings Analog's total financing to $21 million. The project raised $16 million last year at a valuation of $120 million, a 150% increase in valuation in one year.
Young said Analog launched its mainnet last month and will launch its token on February 6. Analog currently has 55 employees and is hiring engineering and marketing staff, including a new "atmosphere director" position focusing on internal and external communications, social media, collaboration and community building. (The Block)