Sonic, a Layer 2 network focused on gaming in the Solana ecosystem, has completed a $12 million Series A financing round, led by Bitkraft Ventures, with participation from Galaxy Interactive, Big Brain Holdings, and others. This round of financing adopts an equity structure and comes with token warrants, bringing Sonic's fully diluted valuation to $100 million. As part of the transaction, Bitkraft joined Sonic's board of directors. The Series A financing brings Sonic's total financing to $16 million, after the company raised $4 million in a seed round in 2022. (The Block)
