Mangata Finance Rebrands as Gasp, Raises $5M in Private Funding Round

Mangata Finance, a cross-chain swap protocol, has rebranded as Gasp and announced a new $5 million private funding round in anticipation of its testnet launch as an EigenLayer Actively Validated Service, or AVS. Several investors, including Polychain Capital, CMS Holdings, Master Ventures, Token Metrics and Cluster Capital, backed the round, Gasp said on Wednesday.

The round had no lead investor, but Cluster Capital contributed the largest share at 30%, Gasp founder and CEO Peter Kris told The Block. Gasp began its fundraising efforts last November and concluded them this month, Kris said, noting that the investment was structured as a SAFE (simple agreement for future equity) with token warrants round. A source with direct knowledge of the matter told The Block that the round has brought Gasp's fully diluted token valuation to $80 millio

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