Azuro Announces Completion of $11 Million Funding Round

Decentralized autonomous organization (DAO), Azuro, has announced that it has reached a landmark achievement in its funding journey. The firm is focused on improving the blockchain layer after securing $11 million in pre-launch funding. According to Azuro, the aim is to revolutionize prediction markets in the web3 space.

Top Investment Firms Contributed To The Funding

The funding round saw participation from major stakeholders and investment firms, including G1 Ventures, Dewhales, Red Beard Ventures, Polymorphic Capital, Arrington Capital, Fenbushi Capital, and SevenX Ventures.

Azuro has also addressed the public regarding the funding. The platform noted that it will be using the additional funds to speed up ecosystem development and increase its marketing efforts as the company faces an important stage in its development.

Azuro’s main goal is to simplify gaming applications and the creation of predictions on blockchain platforms.

It offers a suite of ready-to-use tools and services. The idea is to continue empowering developers who are building apps, integrating them without worrying about the technical and complex nature of blockchain technology.

Additionally, Azuro stated that it will be using its tools and systems to improve users’ gaming experience within the web3 space.

The platform highlighted that it will be using the technology to enhance in-game predictions while improving the overall gaming ecosystem. It cited an example of using the technology for popular game Axie Infinity.The aim is to improve the dynamics of blockchain gaming beyond traditional mechanics.

Azura Reaches A Vital Milestone Following Funding Round

The latest funding round is a major growth stage for Azuro. It’s an addition to the $7.5 million it previously secured in its previous funding round in 2022. Merit Circle, Ethereal Ventures, and AlianceDAO were all contributing investors then.

Another major contributor at Azuro, Rossen Yordanov, has also expressed excitement about the funding round and the project Azuro is planning to execute.

Yordanov stated that the funding will come in handy for Azuro who is gearing to roll out the $AZUR token. The launch of the token will enable the company to implement its goal of democratizing prediction markets.

Azuro has been making steady progress in the web3 and blockchain space. The latest fundraising is a testament that investors are confident about the project the company is undertaking. It also puts confidence in the blockchain gaming community, which is always the main focus for any development within the ecosystem.