- In a Series A investment round led by Sequoia Capital and the Founders Fund, Caldera has raised $15 million.
- Co-founder and CEO Matt Katz said that the Ethereum rollup deployment platform is currently developing “Metalayer” to bring the disjointed Layer 2 and Layer 3 ecosystem together.
In a $15 million Series A fundraising round, Caldera, a web3 infrastructure platform that assists developers in launching Ethereum ETH -7.91% rollups or scaling networks with a single click, has raised funds.
According to Caldera, on Wednesday, the round was led by Peter Thiel’s Founders Fund, with participation from Dragonfly, Sequoia Capital, Arkstream Capital, Lattice, and other investors. According to co-founder and CEO Matt Katz, the US-based business completed the Series A investment before the end of May, having started gathering funds earlier in the month. Regarding the round’s structure, valuation, and whether any investors have assumed advisory or directorship roles on the board, he declined to answer.
After raising $10 million last year, Caldera now has $25 million in total capital thanks to the Series A round.
Caldera: What is it?
With Caldera, developers can easily create application-specific chains based on tech stacks like OP -9.41% Stack from Optimism, ZK -10.16% Stack from ZKsync, ARB -9.69% Nitro from Arbitrum, and MATIC -5.67% CDK from Polygon.
Caldera claims to have assisted more than 50 projects—including Manta Pacific, Injective, ApeChain, Plume Network, Kinto, RARI Chain, and Zerion’s Zero Network—in starting their rollups. According to Caldera, these rollups have conducted over 59 million transactions over 1.7 million separate wallets and hold over $800 million in total value locked.
According to Joey Krug, partner at Founders Fund, “Caldera is capturing two core markets: major existing projects looking to launch their own rollup, and new teams that might not have the capital or infrastructure to manually launch their own chain from scratch.” Because Caldera takes care of the underlying infrastructure, developers are free to concentrate on their main products.
Caldera’s intentions
Caldera is currently developing Metalayer, a project to integrate the disjointed Layer 2 and Layer 3 environment, with new funding in place. According to Katz, The Block, Metalayer will allow web3 teams take advantage of shared network effects, improve the developer experience for multi-rollup dapps, and provide increased scalability, efficiency, and security. We believe the Metalayer will open up new possibilities for innovative dApp networks.
Katz responded, “We do not have any plans for a token at this time,” when asked if Caldera intended to introduce its own token in the future.
Dragonfly partner Anirudh Pai stated in a statement, “I think the Metalayer will vitally oxygenate the Ethereum ecosystem and move us closer to the end-game of blockchain scalability.”
There are now 14 employees at Caldera, and Katz is searching for a number of positions in engineering, design, and product development. In 2022, while pursuing their studies in computer science at Stanford, Katz and his co-founder and chief technology officer, Parker Jou, left to create Caldera.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
