Plume Network, a Layer 2 network focusing on integrating real-world assets (RWAs) into the blockchain, has successfully raised $10 million in seed funding led by Haun Ventures.

Other investors participating in this round include Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, Reciprocal Ventures, and notable angel investors like Anthony Ramirez, Calvin Liu, Ezaan "Zon" Mangalji, Andrew Kang, Jeff Feng, and Jayendra Jog.

Founded earlier this year, Plume Network had initially raised $2 million. However, due to increased interest and discussions with investors starting in April, the company managed to secure four times the planned funding, closing the round earlier this month.

While specifics about the round's structure were not disclosed, Plume Network previously raised $1.6 million through a simple agreement for future equity (SAFE) plus token warrants round, which eventually grew to $2 million. This initial round is part of the $10 million seed funding announced recently.

Plume Network aims to revolutionize the use of RWAs on the blockchain, providing a modular, Ethereum Virtual Machine (EVM)-compatible Layer 2 network. The platform enables users to engage in various activities related to RWAs, such as earning yield, borrowing/lending, trading, and leveraging.

Currently in a private testnet phase, Plume Network boasts over 80 RWA and DeFi projects under development, covering areas like collectibles, alternative assets, synthetics, luxury goods, real estate, borrow/lend protocols, and decentralized exchanges.

Plume Network's technology incorporates essential compliance measures like "know your customer" (KYC), anti-money laundering (AML), and Office of Foreign Assets Control (OFAC) rules into its chain to ensure regulatory adherence, especially for traditional assets.

Utilizing Arbitrum Orbit for its EVM Layer 2 chain and Celestia for data availability, Plume Network ensures compatibility with a wide range of protocols in the blockchain ecosystem, alongside RWA-specific enhancements, fast transactions, and minimal transaction fees.

Looking ahead, Plume Network plans to launch its open incentivized testnet in the coming weeks, followed by the mainnet later this year. With the recent funding, the company intends to expand its team across engineering, go-to-market, and community roles.