Azuro raises $11M for Web3 prediction business

Azuro is setting up Web3 prediction markets.

Image Credit: Azuro

Azuro, a decentralized autonomous organization working on the Azuro blockchain prediction layer, announced that it has raised $11 million. 

Participants from this pre-launch funding round included SevenX Ventures, Fenbushi Capital, Arrington Capital, Polymorphic Capital, Red Beard Ventures, Dewhales, and G1 Ventures. In a statement, the organization said the money will be “strategically deployed to further accelerate ecosystem development during this critical phase of expansion and to intensify marketing efforts.” 

Azuro simplifies the creation of prediction and gaming apps on blockchain platforms. It provides a suite of ready-to-use tools and services that enables developers to quickly build apps, integrations, and products without worrying about the technical complexities of the blockchain. 

These tools can also help make advanced interactions more accessible in Web3 games like Axie Infinity. Using Sky Mavis’ game as a theoretical example, a spokesperson for Azuro said that its technology could be used by players to predict in-game outcomes and events, adding more depth to their strategies outside of the creature battling and breeding mechanics. 

Azuro previously raised $7.5 million in 2022 from investors like AllianceDAO, Ethereal Ventures, and Merit Circle. 

“We’re truly thankful for the incredible trust and support our investors have shown in Azuro. This round of funding arrives just as we’re about to hit some major milestones in our journey, including the much anticipated launch of our $AZUR token, which is at the heart of what we’re building,” said Rossen Yordanov, core contributor at Azuro. “With this new capital injection, we will bring Azuro even closer to our big goal: making prediction markets clearer and more open to everyone.”