Plume, a blockchain network focused on real-world assets, raised $20 million in fresh funding in a Series A fundraising round, the platform told CoinDesk on Wednesday.
Investors participating in the round included Brevan Howard Digital, Haun Ventures, Galaxy Ventures, Lightspeed Faction, Superscrypt, Hashkey, Nomura’s crypto arm, Laser Digital, A Capital, 280 Capital, SV Angel, Reciprocal Ventures and others. The new investment round followed an initial $10 million fundraising in May led by Haun.
With the investment, the team plans to accelerate the development of its own Layer 1 blockchain. The Plume mainnet launch is planned for early next year, according to the press release.
Plume aims to streamline the onboarding and investment in traditional financial instruments, or tokenized real-world assets (RWA), on blockchain rails with its tokenization engine, and is also developing an Ethereum Virtual Machine (EVM)-compatible blockchain where Users can exchange assets. RWAs are a rapidly growing digital asset class, and analysts predict they will explode into a multi-trillion-dollar market over this decade as crypto firms and large financial institutions place assets such as bonds, commodities, and assets. roots in blockchains.
Plume said it has added assets worth more than $4 billion to its ecosystem, including private credit funds, renewable energy financing and mineral rights. The platform also brought niche products to the chain that are often not widely available to average investors, such as graphics processing units (GPUs) and carbon credits, said Will Nuelle, general partner at Galaxy Ventures, one of the investors. by Plume.
“RWAs have always been in tremendous demand, but historically the infrastructure to bring these assets onto the chain has simply not existed,” said Chris Yin, co-founder and CEO of Plume. “Through our technology and ecosystem, we connect you directly to our community, ecosystem and liquidity and all in an open, permissionless and composable way.”
