- Cubist has announced a $7 million funding round led by Polychain Capital.
- The fundraising also attracted participation from dao5, Amplify Partners, Polygon, Blizzard, and Axelar.
- The web3 security startup is ramping up its software developer kit that makes it easier for users to build cross-chain dApps.
Cubist has announced a $7 million funding round led by Polychain Capital. The seed round also attracted participation from leading web3 companies including dao5, Amplify Partners, Polygon, Axelar, and Ava Labs’ Blizzard Fund, among others.
The web3 security company offers a software development kit (SDK) that allows developers to easily build cross-chain decentralised apps (dApps). Cubist’s multi-chain dev toolkit is designed to address one of the biggest challenges to cross-chain interoperability.
The web3 industry is segmented into multiple verticals including programming languages, protocols, security solutions and more. Each vertical features products that are custom-built for specific infrastructures, which makes it difficult for developers when trying to figure out how their products will execute on different platforms. This can put a drag on productivity and efficiency, leading to multiple mistakes.
Cubist wants to address this problem by making web3 development efficient, seamless and safe. Its dev tools allow developers to design the best applications without needing to navigate complex interfaces and infrastructure.
With its SDK, users can write cross-chain dApps as if they run on a single chain, and switch chains or bridge providers with a single line of code.
Commenting on the fundraising Riad Wahby, Co-Founder and Chief Executive Officer of Cubist said: “The future of Web3 will be powered by dApp developers building amazing applications. However, this future will not be possible if developers must continue to build custom tooling and infrastructure, stitch together incompatible point solutions, and lose sleep over the security of their tech stacks. This stifles innovation and leads to serious security vulnerabilities.”
On the other hand, Luke Pearson, Senior Research Cryptographer at Polychain Capital expressed his company’s excitement to lead the fundraising saying that Cubist’s dev tools will make web3 development “faster, safer, and simpler.”
“Cubist is on an exciting growth trajectory, led by a team that is uniquely positioned to address today’s Web3 development and security challenges. By positioning themselves at the union between security, efficiency and developer familiarity, Cubist is defining the next iteration of developer platforms to bring a better experience for all web3,” said Pearson.
Cubist said it will use the fresh capital to expand its team, which already comprises some of the leading scholars on web security and cryptography including CEO Riad Wahby, Chief Technology Officer Fraser Brown and Chief Scientist Deian Stefan, among others. The company is also looking to ramp up its product portfolio as it scales its technological capabilities.
Tekin Salimi, Founder of dao5 commented: “Developers looking for first-class security and a unified multi-chain development environment should look no further than Cubist. We can’t wait to see what’s next for the Cubist team.”
“Web3 has the potential to be transformative—but many Web2 developers remain hesitant to dive in because they just don’t have the time to study every esoteric component of the Web3 tech stack. Cubist, backed by a world-class technical team, is raising the level of abstraction to eliminate this barrier,” said David Beyer, Partner at Amplify Partners.
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