Analog raises $5M in funding to drive web3 interoperability, hits $300M valuation

It’s been two years since we last covered Analog, the tech startup behind the blockchain interoperability Proof of Time protocol, which simplifies collaboration across blockchains while ensuring scalability and security. Since 2022, the company has expanded its team to further its mission of eliminating barriers between blockchain networks.

Today, Analog announced it has closed a $5 million funding round, backed by prominent venture capital firms. This latest raise brings its total funding to $21 million as it prepares for a public token sale.

The funding signals strong investor confidence in Analog’s approach to seamless cross-chain data accessibility. Leading participants include Tribe Capital, Balaji Srinivasan, Wintermute, and Mask Network. Originally incubated by Binance, the round also attracted support from Foresight Ventures, Near Foundation, Contango Digital, Outliers Fund, GSR, NGC Ventures, and several angel investors.

With $21 million raised to date, Analog now stands at a $300 million fully diluted valuation (FDV) as it prepares for its Token Generation Event (TGE). The company plans to use this funding to further develop its technology stack, including its General Message Passing (GMP) protocol and developer tools that enable the creation of omnichain decentralized applications (dApps) capable of operating across multiple blockchains.

Strengthening Cross-Chain Interoperability

Analog’s platform aims to solve critical challenges in blockchain, including inefficiencies and limited cross-chain operability. By providing developers with the tools to create dApps that seamlessly interact across different blockchains, Analog is positioning itself as a key player in building multi-chain ecosystems.

The company’s efforts are supported by its SDK, which currently works with EVM and Polkadot chains. Future updates will include support for Solana and TON, making it easier for developers to build omnichain applications.

Founded by Victor Young and SanChal Ranjan, Analog has already showcased its capabilities with Zenswap, a decentralized exchange that allows users to swap assets across multiple blockchains using USDC-based liquidity routing. Supported networks include TON, Solana, and Bitcoin.

Industry Adoption and Growing Ecosystem

The platform has attracted partnerships with notable projects such as Rarible, Pixelport, Belong Network, XYO, Meson Network, Dmail, and StationX. Over 50 projects are currently building or committed to building on Analog’s protocol. Its testnet has seen strong engagement, with over 345,000 accounts participating, setting the stage for a full mainnet launch.

What’s Next for Analog?

As blockchain technology increasingly moves toward multi-chain solutions, Analog is poised to play a central role in advancing interoperability. Its GMP protocol is designed to support use cases like decentralized trading, NFT minting, and liquidity aggregation across blockchains.

By simplifying cross-chain interactions, Analog is working to create a more connected blockchain ecosystem that benefits developers, institutions, and users alike. With its latest funding round and growing ecosystem, the company is well-positioned to lead this next phase of blockchain innovation.