'One-Stop Station' Digital Identity Service Root Protocol Raises $10M Seed Funding
Summary
Root Protocol, a digital identity service for Web3 platforms, has raised $10 million in two seed funding rounds, valuing the company at $100 million. The rounds were led by Animoca Brands and included contributions from Signum Capital, Ankr Network, CMS Holdings, and angel investors Tekin Salimi and Meltem Demirors. Root Protocol is developing a Web3 operating system to serve as a digital identity aggregator, aiming to simplify access to various Web3 platforms. The successful funding round is seen as a positive sign for Web3 projects, which have faced investment challenges during recent bear markets.
