Borderless Capital leads $6 million seed round for microchain startup Linera
Quick Take
- The web3 microchain startup Linera raised $6 million in seed funding, bringing its total funding to $12 million.
- Borderless Capital led the round, with additional participation from Laser Digital Ventures, DFG, Cadenza and others.
Web3 microchain startup Linera raised $6 million in seed funding, bringing the firm's total funds raised to $12 million.
Borderless Capital led the round, which included additional participation from Laser Digital Ventures, DFG, Cadenza, Block1, Eterna Capital, MH Ventures, Matrixport, L2IV, ArkStream, Flow Traders, GSR Markets and OWC. A16z crypto, which led Linera's first funding round, provided continued support along with Tribe Capital and Cygni Capital.
Linera uses microchains, or numerous "lightweight" blockchains, to remove mempools and reduce validator transactions, thus bolstering the scalability of web3 applications.
Linera microchains
“Linera’s microchains are a completely new and necessary evolution beyond a single monolithic blockchain,” Borderless Capital senior partner Alpen Sheth said in a statement. “This kind of unprecedented performance is essential for web3 to scale applications like payments, messaging, trading, AI and more to billions of users around the world.”
Linera raised its first $6 million in seed funding led by a16z crypto in June of 2022. The firm was founded by Mathieu Baudet, who had worked on Meta's sunsetted digital wallet Novi.
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