Polymer Labs, which is building an Ethereum Layer 2 network to provide interoperability-as-a-service to Ethereum and its rollups, has raised $23 million in a Series A funding round.

Blockchain Capital, Maven 11 and Distributed Global co-led the round, with Coinbase Ventures, Placeholder, Digital Currency Group, North Island Ventures and Figment Capital participating, Polymer Labs said Tuesday.

It isn't clear when Polymer began raising for the round and when the project closed; co-founder Peter Kim declined to comment on the timeline. He also declined to comment on the structure of the round and whether it was an equity, token, or equity-plus-token-warrants round, as well as on valuation.

Polymer's Series A round comes nearly two years after it raised $3.6 million in seed funding. The …