Plume – a layer-1 blockchain focused on the RWA (Real-World Assets) sector, has raised $20 million in a Series A funding round with participation from prominent investment funds
On December 18, 2024, Plume announced the completion of its Series A funding round, raising $20 million. This round saw participation from leading investors, including Brevan Howard Digital, Haun Ventures, Superscrypt, Hashkey, Reciprocal Ventures, and many other major investment funds.
The funds raised will be used to support the development of applications and products within the Plume ecosystem, as well as to build a layer-1 blockchain aimed at serving both crypto users and financial institutions.
Plume’s Notable Milestones
Since its seed funding round, Plume has achieved remarkable milestones. The project’s ecosystem now boasts over 180 protocols, processing a total transaction value of up to $4 billion. During its 8-week testnet phase, the Plume network also recorded 18 million wallets, 3.75 million active users, and over 280 million transactions.
Notably, the pre-mainnet deposit campaign held on July 15, 2024, attracted over $30 million in just 90 minutes.
Plume’s Goals and Direction
Plume focuses on developing infrastructure to bring real-world assets (RWAs) onto the blockchain, facilitating convenient user interaction with these assets. Plume’s notable products include:
- Plume Arc: An asset tokenization tool that helps convert RWAs into digital assets.
- Plume Nexus: A real-world data provider that supports asset information verification and integration.
These products allow users to seamlessly perform activities such as trading, exchanging, and participating in RWA markets, similar to how they interact with digital assets.
“Bringing real-world assets onto the blockchain faces many limitations due to the lack of suitable infrastructure. Plume aims to help traditional institutions easily access the crypto ecosystem, connecting them with the community and capital flows in a transparent and efficient manner,” said Chris Yin, Co-founder and CEO of Plume.
“Plume offers a rather different approach, combining blockchain technology with traditional financial needs. This is especially important in opening up access to alternative asset classes such as carbon credits or GPUs, which were previously inaccessible to many investors,” said Will Nuelle, Partner at Galaxy Ventures.
According to the project team, Plume is expected to launch its mainnet in early 2025, with the hope of contributing to new applications in the RWA sector while providing investors with access to more diverse investment options.
