Blockchain infrastructure startup Cata Labs has raised $4.2 million in seed funding at an "eight-figure valuation." The round, which closed in March, was led by cryptocurrency venture capital firm Spartan Group, with participation from Robot Ventures, Maven 11, Alchemy Ventures, HashKey Capital, Circle Ventures and Superscrypt, among others.
Cata Labs is building Catalyst, a cross-chain bridge designed to make communication between blockchains easier. Catalyst differs from existing bridges in that it can already be integrated into blockchains that opt-in to its ecosystem, forgoing the laborious and manual integration process that characterizes bridges like Wormhole.