Ripple, North Island Ventures Lead $6 Million Funding Round for Cross-Chain Platform Squid

According to The Block, Squid, a cross-chain infrastructure platform, has raised $6 million in strategic funding to develop a consumer-facing product. North Island Ventures led the round, with Ripple, Dialectic, and Borderless participating, alongside angel investors including Axelar co-founder Georgios Vlachos and Enso Finance founder Connor Howe.

The funding brings Squid's total capital raised to $13.5 million across three rounds: a $3.5 million seed in 2023 and a $4 million strategic round in 2024. The platform has processed over $6 billion in transaction volume across more than 4 million transactions and serves over 1 million users through its app and partner integrations in wallets, DeFi applications, and payments.