Axiom Raises $20M in Series A Round Led by Paradigm and Standard Crypto

TL;DR

• Smart contract infrastructure startup Axiom raised $20 million in a Series A funding round.

• The startup will use the funds to develop tools that would give smart contract developers access to more data on-chain.

Axiom Raises $20 Million in Series A funding. 

Crypto infrastructure firm Axiom announced on Thursday that it has raised $20 million in a Series A funding round. The funding round was led by crypto-focused venture firms Paradigm and Standard Crypto and also saw additional support from Robot Ventures, Ethereal Ventures and others. 

Axiom develops tools that enable smart contract developers to have better access to authenticated on-chain data. The team said the funding will help them grow their team and accelerate the development of their core ZK platform empowering smart contract developers to build data-rich, on-chain applications. The startup said,

"Axiom introduces a new approach to authenticated data access using ZK cryptography instead of consensus. By using ZK, Axiom allows on-chain applications to compute over more data at a lower cost, starting with the entire history of Ethereum in Axiom V2."

With this tool, developers would be able to integrate transaction history data in on-chain applications, add modular pieces to on-chain applications without modifying existing deployed business logic, and permissionlessly work with other smart contracts.