Nuffle Labs, an independent entity established by the NEAR Foundation, has completed a strategic financing of $13 million

2024-06-13 21:03:48

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ChainCatcher news, Nuffle Labs, an independent entity established by the NEAR Foundation, has completed a $13 million strategic financing round. The funding comes from strategic grants from the NEAR Foundation and investments led by Electric Capital, with participation from Canonical Crypto, Fabric Ventures, Robot Ventures, Caladan, Lyrik Ventures, and others.

Nuffle Labs is building the NEAR Data Availability Layer (NEAR DA), the NEAR Fast Finality Layer (NFFL), and other products within the NEAR modular product suite.

The company stated in a press release: "As an independent entity, Nuffle Labs will now be able to make agile decisions to ensure that NEAR Modular products remain competitive. Nuffle Labs' strategic positioning between the NEAR Foundation, Ethereum, and the EigenLayer ecosystem will leverage the strengths of multiple platforms to enhance the efficiency and resilience of the NEAR ecosystem."

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