Reservoir Secures $14 Million in Series A Funding for Token Trading
Reservoir Secures $14 Million in Series A Funding
- Reservoir raised $14 million led by Union Square Ventures.
- The company aims to facilitate easy token transfers across blockchains and provide instant liquidity.
- Previous funding rounds totaled $26 million, including $10 million in late 2022 and $2 million in 2021.
- New investors include Variant, Archetype, Coinbase Ventures, and Square Peg Capital.
Product Offerings
- Relay for bridging, swaps, and calls across multiple blockchains.
- Reservoir Swap for decentralized exchange (DEX) and token API.
- Reservoir NFT for a complete NFT marketplace and API.
Unique Approach
- Reservoir integrates applications, infrastructure, and protocols into one system.
- Supports thousands of chains instead of focusing on major networks.
Nick Grossman from USV highlighted the ease and speed Reservoir brings to the on-chain experience, emphasizing its suite of tools for bridging and swapping.