Cancore, a cross-chain trading platform built on the Canton Network, has closed a $7.2 million seed round, according to Odaily, citing The Block. The financing was structured through a Simple Agreement for Future Tokens, or SAFT, and implies a fully diluted valuation of $60 million for Cancore’s planned CNRX token.
Investors in the round include Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk. Among them, Paper Ventures and dao5 received the largest allocations. The company’s co-founder and CEO, Wasif Rashid, said Cancore began speaking with investors in June, formally launched the fundraising process in July, and completed the round in mid-September.
The deal gives a clearer timeline for the company’s capital raise and token financing structure, while also identifying the backers involved in the seed round.
Cancore, a cross-chain trading platform built on the Canton Network, has raised $7.2 million in a seed round, according to Odaily, citing The Block.
The round was completed through a Simple Agreement for Future Tokens, or SAFT. It values Cancore’s planned CNRX token at a $60 million fully diluted valuation.
Participants in the financing included Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk. Paper Ventures and dao5 took the largest shares in the round.
Wasif Rashid, Cancore’s co-founder and CEO, said the company began approaching investors in June, formally started the fundraising process in July, and finished the round in mid-September.
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