Tokenization platform Etherfuse raises seed round at $12.5 million valuation
Summary
White Star Capital and North Island Ventures co-led the round, with Stellar XLM -1.25% Development Foundation, FunFair Ventures, Department of XYZ, Anna Yuan of Solana SOL +4.33% Foundation and Alice Ann Schwartz of Rising Tide Network participating, Etherfuse said Saturday.The startup began raising funds for the seed round in January and closed it in May, co-founder and CEO David Taylor told The Block. The startup previously raised $2 million in a pre-seed round from friends and family, also via SAFE.Etherfuse is an RWA tokenization platform co-founded by Taylor and his brother AJ. Taylor said the platform aims to have over 3,500 RWAs, including most governments short-term debt and anything available on the Mexican stock exchange within the next 18 months. "The vision is for Etherfuse to not only capture, but to expand the emerging bond market by removing the manifold barriers that currently prevent people and businesses from accessing the high, real and safe yields that these assets provide," Sep Alavi, general partner at White Star Capital, said in a statement. "Providing an API to the blockchain world that connects to some of the safest investment assets is hugely enabling for app developers, including those working with stablecoins, looking to build safer, higher-yield, and more stable products on-chain.