Analog has successfully secured $16 million in a recent funding round aimed at advancing its cross-chain communication technologies, achieving a valuation of $120 million. The investment round, spearheaded by Tribe Capital, is set to enhance Analog's focus on blockchain interoperability solutions.

In a statement shared on social media, Analog expressed enthusiasm about the development of novel cross-chain communication tools, backed by substantial support from its partners.

Notable investors contributing to this round include NGC Ventures, Wintermute, GSR, the NEAR Foundation, Orange DAO, Samara Asset Group, among others.

Victor Young, the founder of Analog, highlighted the growing demand for cross-chain interoperability as a catalyst for the project's inception. "Our vision at Analog is to create a seamless, interoperable blockchain ecosystem, and this funding will propel us toward realizing that vision." Young remarked on LinkedIn, emphasizing Analog's commitment to cross-chain interoperability.

Analog's suite of projects, such as Timechain, Analog Watch, General Message Passing (GMP), and Timegraph SDK, aims to equip blockchain developers with a comprehensive toolkit for innovation, eliminating the need for third-party solutions like oracles.

In December 2023, Analog unveiled its Testnet, opening registrations for users keen on exploring new features and providing feedback. The Testnet grants access to new tools including Analog Watch and its SDK, alongside a preliminary version of General Message Passing on the Timechain.