Crypto infrastructure provider Orbs raising $10 million from DWF Labs in token round

The first tranche of the total investment settled today, Orbs CEO Nadav Shemesh told The Block. "Founded in 2017, Israel-based Orbs offers a blockchain network that works as a "separate execution layer between Layer 1/ Layer 2 solutions and the application layer, as part of a tiered blockchain stack, enhancing the capabilities of smart contracts," according to Shemesh.With DWFs investment, Orbs plans to continue developing its infrastructure to grow adoption, both on Ethereum Virtual Machine (EVM) chains and on The Open Network (TON), Shemesh said. Orbs recently started building on TON as the first non-EVM Layer 1.TON was originally introduced by the Telegram team. "Orbs is a highly promising project within the TON ecosystem, and we are pleased to invest in their vision for the future of decentralized finance," Andrei Grachev, managing partner at DWF Labs, said.DWF Labs recently partnered with the TON Foundation and committed $10 million to support the TON ecosystem. DWF also said it would invest in 50 seed-stage startups over the next 12 months to grow the ecosystem.Orbs previously raised $118 million in 2018.