Cross-chain infrastructure TeleportDAO completes $2.5 million seed round led by AppWorks and DefinanceX

TeleportDAO, a cross-chain infrastructure in Vancouver, Canada, announced the completion of a $2.5 million seed round of financing, led by AppWorks and DefinanceX, with participation from Quantstamp, Coinlist, Candaq Fintech Group, SNZ Holding Limited, and Gate Labs. TeleportDAO intends to use the funds to invest in product development and scaling teams, and will expand to multiple EVM and non-EVM chains. TeleportDAO was established in February 2022 and is led by Niusha Moshrefi (CEO). TeleportDAO created teleBTC (a decentralized Bitcoin wrapper on Polygon) and TeleSwap (a service built on its bridge that enables users to wrap/wrap between Bitcoin and Polygon without the involvement of any third-party entities unlock or trade). TeleportDAO was previously selected for the 2022 Summer Batch "CoinList Seed".