Blockchain interoperability protocol Analog completed a new round of financing with a valuation of $300 million.

Blockchain interoperability protocol Analog raised a new round of $5 million financing before the Token Generation Event (TGE), bringing its Fully Diluted Valuation to $300 million. Victor Young, co-founder of Analog, told The Block that this round of investors includes Foresight Ventures, gate Ventures, BackerDAO, and Black Label Ventures (the risk investment department of Black Label Media, a film production company), and there is no lead investor in this round of financing.

Previously, Analog completed a seed and strategic financing round led by Tribe Capital in February 2024, raising $16 million out of a total valuation of $120 million. NGC Ventures, Wintermute, GSR, NEAR, Orange DAO, Balaji Srinivasan, and others participated in the round of financing, which was completed through the Simple Future Token protocol (SAFT).

Frax Finance founder Sam Kazemian and three co-founders Molly Smith and twin brothers Thad and Trent Luckinbill from Black Label Media also participated as angel investors