Plume Network Raises $20 Million in Series A Funding for Real-World Asset Finance
The Plume Network, a modular layer-1 blockchain designed for real-world asset finance, has successfully secured $20 million in a Series A funding round. This milestone was achieved with the support of leading blockchain and crypto-focused venture capital firms.
The team at Plume Network recently made an official announcement revealing that Brevan Howard Digital, Haun Ventures, and Galaxy Ventures were the primary backers of the funding round. The infusion of capital will be instrumental in expanding Plume’s ecosystem for real-world asset finance and accelerating the development of its layer-1 blockchain.
Plume Network has a clear objective of creating a blockchain platform tailored to meet the needs of both crypto-native users and institutional players, with a specific focus on bringing traditional financial assets onto the blockchain. The raised funds will be channeled towards supporting decentralized finance applications and tokenized products that leverage Plume’s innovative approach.
One of the key features of Plume’s infrastructure is its ability to facilitate alternative investment classes, including carbon credits, graphics processing units, and specialty finance. Chris Yin, the co-founder and CEO of Plume, emphasized the project’s overarching mission, stating:
“RWAs have always had tremendous on-chain demand, but historically the infrastructure to bring these assets on-chain just hasn’t existed,” said Chris Yin, co-founder and CEO of Plume. “With Plume, asset issuers of all kinds can become crypto native builders.”
Strategic Partnerships and Collaborations
In a recent development, Plume Network announced a strategic collaboration with Chateau Capital, a private asset tokenization platform. Through this partnership, Plume aims to tokenize illiquid assets such as pre-IPO shares, hedge fund strategies, and private equity investments, potentially unlocking over $500 million in opportunities within the private markets.
Furthermore, Plume has forged a partnership with DigiFT, a regulated RWA exchange based in Singapore, to onboard institutional-grade assets. This collaboration includes providing access to uMINT, a tokenized money market fund by UBS Asset Management.
Investment and Growth
Aside from the primary investors in the Series A round, namely Lightspeed Faction, Hashkey, and Nomura Group’s Laser Digital, Plume’s funding journey also saw a successful pre-deposit campaign earlier this year, raising $30 million in just 90 minutes. The platform had previously secured $10 million in a seed round back in May 2024.