Blockchain prediction layer Azuro raises $11 million after pre-launch funding round from Chainwire


Lisbon, Portugal, April 11, 2024, Chainwire

Azuro, the leading liquidity layer for on-chain predictions, is pleased to announce the successful completion of its pre-launch funding round, bringing the total capital raised to $11 million. This round was supported by an impressive lineup of investors including SevenX Ventures, Fenbushi Capital, Arrington Capital, Polymorphic Capital, Red Beard Ventures, Dewhales and G1 Ventures.

This round follows an earlier funding injection of $7.5 million in 2022 from a cohort of 25 investors secured in Seed and Strategic rounds. Esteemed participants in this phase included AllianceDAO, Ethereal Ventures, Delphi Digital, Gnosis, and Merit Circle, among others, underscoring the broad confidence in Azuro's vision and technology.

Azuro is at the forefront of on-chain forecasting market innovation, offering a decentralized platform that enables the creation of various applications, integrations and products. At its core, Azuro's innovative Liquidity Pool (NASDAQ:) design, the Liquidity Tree, provides unparalleled market liquidity and supports thousands of sports markets and other games, all connected as part of the Azuro ecosystem.

In anticipation of the token's long-awaited launch, Azuro recently advanced to the third and final stage of the Azuro Score, seeing significant momentum in its growing ecosystem. Since the launch of Phase 2 in September 2023, transaction volume has increased to over $225 million, with sales exceeding $2.4 million. Over 20 dapps are already up and running using Azuro's infrastructure to run their businesses, dozens more are in the pipeline, and over 4,400 liquidity providers are actively participating in the pools.

Funds from this round will be used strategically to further accelerate ecosystem development during this critical phase of expansion and intensify marketing efforts, solidifying Azuro's position as a leader in the decentralized forecasting space.

Azuro's commitment to innovation and community engagement remains unwavering, as Rossen Yordanov, principal employee at Azuro, expresses: “We are truly grateful for the incredible trust and support our investors have shown Azuro.” This round of funding comes at a timely moment , where we reach several key milestones in our journey, including the highly anticipated launch of our $AZUR token, which is at the heart of our development. With this new capital injection, we are bringing Azuro even closer to our big goal: making prediction markets clearer and more open for everyone.”

This latest round of investment allows Azuro to further advance its mission to provide a transparent, fair and highly liquid on-chain prediction and gaming experience platform, setting new industry standards for decentralized marketplaces.

About AzuroAzuro is the on-chain prediction layer. It consists of modular tooling, oracle and liquidity solutions for EVM chains to host powerful prediction and gaming apps.

With its unique infrastructure layer approach, Azuro makes on-chain predictions and gaming portable and composable. It allows anyone to onboard and monetize users by building apps, integrations, and products quickly, without permission, and with no upfront or ongoing costs.

For further information or press inquiries, please contact [email protected]

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ContactAzuro team[email protected]

This article was originally published on Chainwire


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