Cancore completed a $7.2 million seed round financing, with participation from Paper Ventures and others

The cross-chain trading platform Cancore, built on the Canton network, has completed a $7.2 million seed round financing. This round of financing was conducted through a Simple Agreement for Future Tokens (SAFT), corresponding to a fully diluted valuation (FDV) of $60 million for its planned CNRX token.

This round of financing was participated in by Paper Ventures, dao5, ArkStream Capital, X Ventures, MH Ventures, and Proof of Talk, with Paper Ventures and dao5 receiving the largest shares. Cancore co-founder and CEO Wasif Rashid stated that the company began reaching out to investors in June of this year, officially launched the financing in July, and completed it in mid-September.