Figment Capital leads $3 million seed round for Semantic Layer

The decentralized application (dApp) infrastructure developer Semantic Layer raised $3 million in seed financing, which comprises the firm's total funding to date.

Figment Capital led the round, which saw additional support from Hack VC, Robot Ventures, Bankless Ventures, Fenbushi Capital, Anagram and Perridon Ventures, according to a release shared with The Block.

Semantic Layer aims to bolster transaction execution infrastructure with its tools, Verifiable Aggregation Rules (VAR) and Verifiable Sequencing Rules (VSR). These tools will give dApps more control over multi-blockchain transaction ordering and bundling.

VAR and VSR, working within Semantic Layer's application-specific sequencing (ASS) framework, can also reduce maximal extractable value (MEV) leakage and allow dApps to catch malicious transactions via "circuit breakers."

"The main purpose of this funding round is to develop the semantic layer core and enhance the market awareness of ASS, including sponsoring research and developer discussion events," Semantic Layer co-founder Daniel Tong told The Block.