The funding will be used to expand SuperLayer's unique operating model, invest in new projects and build premium Web3 products for rapid mass adoption
SAN FRANCISCO, CA / ACCESSWIRE / August 18, 2022 / Web3 venture studio SuperLayer is announcing a $25 million fund led by anchor investor and strategic partner Polygon, an Ethereum scaling platform onboarding millions to Web3.
SuperLayer is a Web3 venture studio founded by early pioneers in blockchain, gaming, and social tokens who are applying their proven expertise to build and back premium tokenized apps for consumers. The studio is led by Managing Partners Kevin Chou and Mahesh Vellanki, founders of leading blockchain and Web3 companies, including Forte. Prior to founding Forte, Chou successfully built the gaming company Kabam, which was acquired for more than $800 million in 2017.
Polygon is designed to work in parallel with the Ethereum network to improve functionality and promote infrastructure development. The network provides end-to-end solutions for developers and users and is already working with major global brands and companies, including Stripe and Adobe.
The anchor fund investment from Polygon provides SuperLayer with additional opportunities to expand and strengthen its ecosystem of projects, partner with founding teams on development, and unlock the fundraising required to scale projects that meet the needs of consumers around the world. SuperLayer and Polygon are both respected for their technology, ecosystem, and company-building prowess. Together, alongside their networks of partners and entrepreneurs, they are committed to launching the next generation of companies that make Web3 accessible to mainstream audiences. This announcement comes shortly after the beta release of the SuperLayer-backed platform Taki, a global token-powered social network that has reached over 750,000 people since its launch in April 2022.
As a Web3 venture studio that supports its projects long after launch, SuperLayer differentiates itself from other VCs and accelerators with its success in helping brands and companies to implement tokenized economies using the RLY Protocol. Working with SuperLayer increases the likelihood of successful outcomes with SuperLayer's hands-on startup studio expertise. SuperLayer supports critical areas to win in Web3, including community, compliance, go-to-market, partnerships, and more. Furthermore, with the winning Web3 track record of SuperLayer's founders and core team, projects in the venture studio's ecosystem gain credibility in the Web3 space.
"Given SuperLayer's focus on speed and quality, Polygon is a natural partner with industry-leading protocols designed to fix blockchain scalability issues that have slowed innovation," said Kevin Chou, Managing Partner of SuperLayer. "Polygon's technology removes critical costs and congestion barriers to mass-scale consumer adoption, and its thriving ecosystem offers an ideal environment for growth and collaboration, opening the door for transaction-intensive crypto projects like SocialFi, GameFi, NFTs, and DeFi to reach their full potential. Our team at SuperLayer is excited to support ambitious projects to build on Polygon."
SuperLayer will continue launching projects with quick go-to-market strategies, ecosystem sustainability, and interoperability in mind. The strategic partnership with Polygon allows SuperLayer to continue delivering Web3 projects to communities while also helping an entire ecosystem of dApps to work together.
"SuperLayer's track record for Web3 innovation is incredible, and the projects spun out of the studio are a testament to their expertise. We're delighted to partner with SuperLayer to explore creative new use-cases and products that people want to utilize and that can positively influence the future of Web3," said Sandeep Nailwal, Co-Founder of Polygon.
"Polygon is a layer-2 scaling solution for Ethereum's stress-tested blockchain, enabling new classes of projects to excel, in part by lowering previously prohibitively expensive transaction costs to a few cents. This benefits both entrepreneurs and end users; Polygon reduces the network load for much of the industry and creates a more sustainable path forward for Web3. With this investment and strategic partnership, SuperLayer is enthusiastic about shipping projects to lead the way on Polygon," said Kevin Chou, Managing Partner of SuperLayer.
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About SuperLayer
SuperLayer is a Web3 venture studio that builds and supports new multi-chain, tokenized consumer products and applications powered by the RLY Protocol. Led by Managing Partners Kevin Chou and Mahesh Vellanki - who have more than $1 billion+ in exits between their combined venture and founding experience - SuperLayer works with partners and teams to facilitate the launch, staffing, go-to-market, compliance, and fundraising for Web3 projects. The Web3 venture studio's mission is to attract and support the next 100 million people using crypto.
For more information on SuperLayer, visit superlayer.io.
About Polygon
Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon's scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted, 1.6B+ total transactions processed, 142M+ unique user addresses, and $5B+ in assets secured. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.
If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon's fast and secure txns for your dApp, get started here.
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SOURCE: Polygon