Linera has achieved a remarkable milestone, securing an impressive $12 million in seed funding to fuel its groundbreaking endeavors. The latest infusion of capital, a substantial $6 million follow-on investment round, was spearheaded by Borderless Capital, further underscoring the immense confidence in Linera’s vision.
This funding surge is a testament to Linera’s innovative prowess as the pioneer of blockchain network scalability through microchains. Guided by the visionary Mathieu Baudet, a former Meta researcher renowned for his work on the Novi digital payments wallet and cryptographic protocols, Linera is on a mission to revolutionize web3 applications. The key lies in their pioneering technology, which introduces an expansive array of user chains powered by an elastically scalable network, effectively bridging the scalability gap between web2 and web3.
Leading the charge, Borderless Capital’s involvement in this funding round showcases the industry’s recognition of Linera’s potential to reshape the blockchain landscape. Noteworthy backers, including Laser Digital Ventures, DFG, Cadenza, Block1, Eterna Capital, MH Ventures, Matrixport, L2IV, ArkStream, Flow Traders, GSR Markets, and Open Web Collective (OWC), have further solidified Linera’s position as a trailblazer. It’s worth highlighting that this impressive round of funding is fortified by continued support from luminaries such as a16z crypto, Tribe Capital, and Cygni Capital, who initially participated in Linera’s seed round.
With a resounding $12 million in seed funding secured and an exceptional roster of backers, Linera stands primed to drive the evolution of blockchain scalability and redefine the future of web3 applications.
“Amidst emerging web3 architectures such as the shift from a single monolithic blockchain, Linera’s microchains stand out as a fresh and vital evolution. Moreover, Linera’s linear scaling ability is purpose-built to accommodate countless concurrent transactions, reaching even into the realm of billions. This unparalleled performance and dependability are indispensable for web3 to effectively expand applications—ranging from payments and messaging to trading, AI, and beyond—to a global user base of billions,” remarked Alpen Sheth, Senior Partner at Borderless Capital.
“Linera’s remarkable advancements since our initial seed round last year have energized our commitment to the project. Mathieu and the Linera team have ingeniously crafted a multi-chain framework, opening expansive possibilities for developers and users alike. Anticipating the evolution of Linera into the devnet and testnet stages, we are eager to witness the ecosystem’s emergence and the functionalities it empowers,” commented Ali Yahya, General Partner at a16z crypto.
Linera has boldly released its inaugural Software Development Kit (SDK) for rigorous testing, with a prime focus on empowering Rust developers. Buoyed by substantial new funding, Linera is poised to embark on an impressive trajectory. The expansion of our adept team, coupled with the imminent launch of both a cutting-edge devnet and a robust testnet for the protocol, underscore our commitment to innovation. Furthermore, our strategic footprint in the thriving APAC region is set to flourish, solidifying our market presence. Concurrently, we remain steadfast in our dedication to nurturing burgeoning talents through the sustained expansion of our esteemed Developer Academy.
From microchains to mass-scalable applications
The rivalry for blockspace within conventional Layer 1 blockchains, along with restricted production rates and block sizes, generates a bottleneck during periods of high traffic. This results in users being priced out or experiencing delays, effectively rendering the infrastructure inaccessible.
“We’ve reevaluated our approach to revamp an entire blockchain framework with scalability as the core,” expressed Mathieu Baudet, Linera’s CEO and founder. “Linera’s exceptional multi-chain structure guarantees consistent performance, agility, and strong security on a global scale.”
Linera is a pioneering force, empowering developers to forge high-velocity web3 applications that cater to a vast array of active users in simultaneous harmony. This marks a watershed moment in reshaping decentralized infrastructure across a spectrum of vital use cases, spanning retail payments, micro-payments within gaming, messaging solutions, proprietary trading, and the pivotal realm of blockchain bridges.
At its core, the Linera system orchestrates scalability by seamlessly integrating additional chains rather than resorting to enlarging block sizes or ramping up production rates. The groundbreaking microchain paradigm endows each individual user with their very own nimble chains, seamlessly melding into browser extensions or mobile devices, thereby cultivating a frictionless landscape for web3 app interactions housed within their wallets. In moments of peak demand, the audacious elasticity of Linera’s validators unfolds akin to dynamic web services, adeptly accommodating the surge.
The bedrock of Linera’s inventive blueprint stems from the profound acumen amassed by Mathieu Baudet during his tenure at Meta, where his contributions to the Libra (now Diem) blockchain and co-authorship of the seminal academic paper “FastPay” became the bedrock for the Linera protocol. Furthermore, Bernadette Cay, Linera’s COO, augments the visionary force with her rich repository of expertise garnered from product launches at Google and MoPub, the mobile ad exchange that found a home within Twitter’s embrace.