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Sommelier: Raises $3.5M in Seed Funding

March 11, 2021

Sommelier, a San Francisco, CA-based decentralized finance blockchain protocol and Ethereum bridge that acts as a co-processor to the Ethereum world computer, raised $3.5M in seed funding
The round led by Standard Crypto with participation from Multicoin Capital, Alameda Ventures, Proper Cygni and Power Planet Holdings
The company also intends to use the funds for the development of its multichain protocol and its flagship decentralized finance applications, which expected to launch in Q1 2021
A lead developer on the Cosmos protocol and Tendermint, and a team of Ethereum and Cosmos developers Sommelier is a coprocessor for DeFi traders and Liquidity Providers (LPs)
Liquidity Providers will also able to use the Sommelier to author and execute complex, and automated financial transactions
Sommelier currently in testnet and actively seeking new contributors