Cosmic Wire, a leading technology company in Web3 and blockchain solutions, has successfully raised $30 million in its Series Seed round

News provided by

Jul 19, 2023, 08:00 ET

The investment, led by Solana Foundation and Polygon, distinguishes Cosmic Wire as the first cross-chain funded Web3 company

NEW YORK, July 19, 2023 /PRNewswire/ -- Cosmic Wire, a leading technology company innovating Web3 and blockchain solutions, today announced the completion of their Series Seed round raising $30 million.

Jerad Finck, Founder and CEO of Cosmic Wire, and Johnny Lee, general manager of Games, Entertainment, and Media at Solana Foundation.

Led by investors Solana Foundation and Polygon, the Seed round establishes Cosmic Wire as the first cross-chain funded Web3 company. The funds raised will propel Cosmic Wire's decentralized applications, which serve as the foundational operating system for today's Web3 ecosystem. Notably, cross-chain technology will enable seamless data transfer and interoperability across different blockchains.

With a strong emphasis on privacy and empowering users, Cosmic Wire will utilize the funding to accelerate the development of a more decentralized, transparent, and secure digital Web3 ecosystem. The company aims to empower users with sovereign control over their data and online interactions. The success of the Seed round reinforces Cosmic Wire's commitment to connecting creators, businesses, and industries worldwide, transforming the way we communicate and transact. By pioneering new avenues in Web3, Cosmic Wire will unlock enhanced efficiency and scalability, revolutionizing systems at scale.

"We are very excited for Cosmic Wire's Web3 infrastructure to be built on the Solana network," said Johnny Lee, general manager of Games, Entertainment, and Media at Solana Foundation. "Their metaverse SDK solutions significantly reduce development times of high-fidelity, 3D, browser-based metaverse experiences with e-commerce of both physical web3 digital products, content CDNs, payment solutions and avatar UGC all integrated. Solana Foundation has always supported tools and infrastructure builders, and we are excited for Cosmic Wire to deliver new metaverse experiences on the Solana network that have never been possible before."

In addition to this milestone, Cosmic Wire has been selected as a participant in Google Cloud's highly anticipated Web3 startup program, prior to its official launch. This recognition solidifies Cosmic Wire's leadership in the next generation of blockchain and immersive technology. Through Google Cloud's program, Cosmic Wire will gain exclusive access to customized resources, including a substantial allocation of Google Cloud credits for a two-year period, unparalleled entry into Google's Web3 ecosystem, and a range of complimentary benefits.

Cosmic Wire's platform-agnostic, scalable, and interoperable blockchain technology will facilitate seamless integration and collaboration across the Internet. While Web2 focuses on centralized content creation and exchange, Web3's decentralized structure empowers users to create content and securely exchange information. Cosmic Wire's pioneering solutions, driven by Founder and CEO Jerad Finck and a team of experienced entrepreneurs, developers, and blockchain experts, are designed to meet the evolving needs of the Web3 landscape. With ongoing support from partners and investors, Cosmic Wire is poised to expand its global presence.

"We are so grateful for the overwhelming support from our investors and partners," says Jerad Finck, CEO and Founder of Cosmic Wire. "Thanks to the massive success of the Seed round, we're now empowering creators, businesses, and entire industry sectors connecting people globally, and transforming the very way we communicate and transact. Cosmic Wire is blazing the path forward driving Web3 in exciting new ways resulting in exponential increases of efficiencies and monetization of systems at scale. We have all seen what Web3 isn't, now we will show you what it is."

About Cosmic Wire:
Cosmic Wire is at the forefront of Web3 innovation and blockchain solutions. The company's proprietary technology and decentralized applications form the backbone operating system for the Web3 ecosystem. Cosmic Wire's technical advancements transform the fabric of Web3, revolutionizing the functioning of the Internet.

The company prioritizes privacy and user empowerment, striving to create a decentralized, transparent, and secure digital Web3 ecosystem. Cosmic Wire enables users to have full control and sovereignty over their data and online interactions. With patented volumetric mesh technology and cutting-edge compression algorithms, Cosmic Wire allows high-fidelity live streaming of volumetric captured content within standard web browsers. Their platform-agnostic, scalable, and interoperable blockchain technology facilitates transparent and trustless business, communication, and exchange. Additionally, Cosmic Wire's focus on immersive storytelling unlocks new monetization opportunities and enhances digital entertainment, metaverses, and community engagement.

Led by Founder and CEO Jerad Finck, the Cosmic Wire team comprises experienced entrepreneurs, innovators, developers, blockchain experts, and creatives dedicated to meeting the evolving needs of the Web3 landscape. Cosmic Wire's transformative technology will reshape various industries, including finance, logistics, supply chain, insurance, healthcare, education, gaming, sports, entertainment, travel, retail, and real estate.

Headquartered in Miami, Florida, Cosmic Wire collaborates with global organizations to drive the widespread adoption of Web3 technologies.

For case studies and more information about Cosmic Wire, visit https://www.cosmicwire.com/

Website: https://www.cosmicwire.com/
Media Relations: Rubenstein Public Relations: Steven Weiss, 212-805-3062, [email protected]
Investor Relations: Mike Mumola, Chief Legal Officer [email protected]
Social Media:
Instagram: @cosmicwire
Twitter: @CosmicWireInc
LinkedIn: @cosmicwireinc
Facebook: @cosmicwire