Plume Secures $20 Million in Series A Funding from Brevan Howard and Partners Prior to Mainnet Launch
Plume, a blockchain platform dedicated to real-world assets, raises $20 million to accelerate its development ahead of its mainnet launch.
Plume Secures $20 Million in Series A Funding from Brevan Howard and Partners Prior to Mainnet Launch
The platform has successfully onboarded over $4 billion in traditional assets, including renewable energy projects and mineral rights.
Plume, a blockchain network dedicated to real-world assets, announced on Wednesday that it has raised $20 million in a Series A round of funding involving prominent investors such as Brevan Howard, Haun Ventures, and Galaxy Ventures.
Key Highlights:
- Funding Round: $20 million with strategic investments from Brevan Howard, Haun, and Galaxy Ventures.
- Funding Utilization: The capital will accelerate the development of its layer 1 blockchain, targeting a mainnet launch in early 2025.
- Market Potential: Analysts project the tokenized real-world assets sector to expand significantly, potentially reaching trillions of dollars within the decade.
With this funding boost, Plume aims to enhance its infrastructure for tokenizing traditional financial instruments on blockchain technology. According to Plume, their ecosystem has already integrated over $4 billion in assets, which include financial products like private credit, renewable energy projects, and niche investments such as carbon credits.
"Real-world assets have immense demand, but the infrastructure necessary for their blockchain integration has historically been lacking," stated Chris Yin, co-founder of Plume. "Our platform enables direct participation from our community in an open and permissionless fashion."
