Nuffle Labs, the new independent company of the NEAR Foundation, raises $13 million in funds

  • Nuffle Labs is a spin-off of the NEAR Foundation that has raised $13 million in investment.
  • The NEAR Fast Finality Layer, Data Availability Layer, and other products in the NEAR modular product suite are developed by Nuffle Labs.

Nuffle Labs is an independent organization that was established by the NEAR Foundation and has raised $13 million in strategic support.

The NEAR Fast Finality Layer (NFFL), the NEAR Data Availability Layer (NEAR DA), and other components of the NEAR modular product suite are developed by Nuffle Labs. According to a release from the company received funds from an investment led by Electric Capital and a strategic grant from the NEAR Foundation.

Additional money was provided by angel investors Jordi Alexander from Selini, Bowen Wang from NEAR, Sreeram Kannan from EigenLayer, Sam Kazemian from Frax, and Sandeep Nailwal from Polygon. Fabric Ventures, Robot Ventures, Caladan, and Lyrik Ventures also contributed.

According to an announcement from the firm, Nuffle Labs will now have the independence to make quick decisions that will keep NEAR Modular products competitive. Nuffle Labs, which is positioned between the NEAR Foundation, Ethereum, and EigenLayer ecosystems, will strategically utilize the advantages of several platforms to improve the NEAR ecosystem’s resilience and efficiency.

The NEAR Protocol is a decentralized platform that enables developers to create decentralized applications, and it is managed by the nonprofit NEAR Foundation.

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.

Author: Puskar Pande

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