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’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.”
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.