Cryptography Network Lit Protocol Closes $13 Million Series A Funding Round Led by 1kx

Cryptography network Lit Protocol has raised $13 million in a Series A round led by crypto investment firm 1kx, with participation from A Capital, Figment, Filecoin, OpenSea Ventures and others. The funds raised will be used to hire developers creating a decentralized ownership and interoperability across protocols.

Lit aims to give individuals agency within Web3 ecosystems by giving users a private key that is interoperable across decentralized finance (DeFi), decentralized autonomous organizations (DAO) and non-fungible tokens (NFT) on Ethereum Virtual Machine (EVM), Cosmos and Solana chains.