Plume Network, a San Francisco, CA-based company specializing in modular Ethereum Virtual Machine (EVM) Layer-2 technology for real-world assets (RWA), has successfully raised $10 million in seed funding.
Leading the Funding Round
The seed round was led by Haun Ventures, with significant participation from Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, Reciprocal Ventures, and other investors. Notable angel investors included industry leaders such as:
- Anthony Ramirez of Wormhole Labs
- Calvin Liu of Eigenlayer
- Zon of Initia
- Andrew Kang of Mechanism
- Jeff Feng and Jayendra Jog of Sei Network
- Adam Lawrence of rwa.xyz
- Austin King and Tyler Tarsi of Omni
Company Leadership and Vision
Plume Network is led by CEO Chris Yin and Teddy Pornprinya. The company aims to revolutionize the integration of real-world assets onto blockchain technology by providing a modular EVM Layer-2 blockchain. This platform is specifically designed to streamline the deployment of RWA projects and integrate asset tokenization and compliance providers directly into the blockchain.
Strategic Goals
The newly acquired funds will be used to expand Plume Network’s operations and further develop its blockchain platform. The primary goals include:
- Simplifying the processes involved in RWA project deployment
- Offering investors a comprehensive blockchain ecosystem for investing in various RWAs
- Enhancing RWA composability through decentralized finance (DeFi) applications
- Providing access to high-quality buyers to increase liquidity for tokenized RWAs
Market Impact and Future Prospects
Plume Network has already demonstrated significant traction, with over 80 RWA projects in areas such as collectibles, alternative assets, synthetics, luxury goods, real estate, and DeFi being built on its testnet. This diverse range of projects underscores the platform’s potential to support a wide array of real-world asset tokenization efforts.
In summary, Plume Network’s innovative approach to bringing real-world assets on-chain, combined with substantial financial backing from prominent investors, positions it as a promising player in the blockchain and DeFi landscape.
