Squid, a cross-chain infrastructure platform, raised $6 million through a strategic investment round to launch a new product for individual users, The Block reported on Thursday.

North Island Ventures led the round, with participation from Ripple, Dialectic and Borderless, the report said. Angel investors also joined, including Georgios Vlachos (게오르기오스 블라코스), a co-founder of Axelar. Squid's total funding increased to $13.5 million.

Squid was incubated within the Axelar ecosystem and grew into an independent platform.

Squid currently operates a web-based bridge and swap app. It is preparing consumer products based on routing and settlement infrastructure.

It also said it has processed more than 4 million transactions across more than 100 blockchain networks since its launch in 2023, with transaction volume exceeding $6 billion.

The Squid app supports moving assets across different blockchain ecosystems in a single transaction, including Bitcoin, Ethereum, Solana, Cosmos and the XRP Ledger. It is an official bridge partner for the XRP Ledger and also operates as a network validator while participating in governance.