The fundraising brings the total raised to $26 million following a $10 million seed and $2 million pre-seed rounds announced in 2022 and 2021, respectively.
Token trading infrastructure platform Reservoir has raised $14 million in a Series A round led by Union Square Ventures.
The round also saw participation from Coinbase Ventures, Variant, Archetype, 1kx and others, bringing the total raised to $26 million following a $10 million seed and $2 million pre-seed announced in 2022 and 2021, respectively.
Reservoir will use the capital to expand its token trading service beyond NFTs, enabling trading on apps across multiple blockchains. Union Square Ventures partner Nick Grossman will be joining the Reservoir board as part of the deal.
Founded in 2021, Reservoir began as an NFT trading infrastructure platform, partnering with the likes of Coinbase, OpenSea, Magic Eden, MetaMask, and Zora. Now, the company is looking to expand its business further.
“We’re moving towards a world with millions of tokens issued across thousands of chains,” Reservoir co-founder and CEO Peter Watts told The Block. “Reservoir’s mission is to enable seamless movement between all of these assets, to unlock powerful new use cases across finance and culture.”
The company’s bridging and swaps platform, Relay has been integrated with Solana, Bitcoin, Tron, Ethereum Virtual Machine (EVM) chains and rollup networks, enabling multi-chain support.
Reservoir also offers Reservoir Swap, a decentralised exchange and token API and Reservoir NFT, which acts as its NFT marketplace and API.
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