Sonic Raises $12M in Series A Round for Gaming-focused Solana Layer 2
The round was led by BITKRAFT Ventures, and the funds will further grow the first SVM chain on Solana, focused on gaming.
Sonic, a gaming-focused Solana Layer 2 company, recently raised $12M in its Series A round, which was led by BITKRAFT Ventures. Other participants in the round included Galaxy, Big Brain Holdings, OKX Ventures, Morningstar Ventures, and others. The funds will further grow the first SVM chain on Solana, which is focused on gaming.
Sonic is a gaming-focused Solana Layer 2 developed by Mirror World Labs (MWL). Sonic is being built using MWL’s proprietary HyperGrid Framework technology. This enables developers to seamlessly deploy new game engines and virtual machines within the Solana environment.
Solana is a retail-friendly blockchain due to its easy onboarding. Sonic is building a tech infrastructure, aiming to become the go-to protocol for any gaming studio looking to build games within the Solana ecosystem.
This Series A round, along with the $4M seed funding the team received back in 2022, brings their total to $16M. The Series A also brought Sonic to a fully diluted token valuation of $100M.
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About Morningstar Ventures
Morningstar Ventures is a proprietary investment firm specializing in digital assets and blockchain technology. Under the leadership of Founder & CEO Danilo S. Carlucci, the Morningstar Ventures team consists of seasoned professionals who bring years of experience across various fields, such as technology, marketing, community, product, and growth strategy.
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