Lightspeed Venture Partners and Pantera Capital co-led the investment in the recent funding round for a company. Other contributors included Dragonfly Capital, Faction Ventures, the Blockchain Builders Fund, ParaFi, and Greenfield Capital.
Electric Capital and King River also participated in the round. The company stated that the funding will be used to further drive adoption and innovation of its technology within the crypto space.
This initiative aims to advance NEAR’s modularity and promote decentralized development. Notably, the funding includes a grant from the foundation and investments from Electric Capital, Canonical Crypto, Fabric Ventures, and Robot Ventures among others.
Nuffle Labs, a company, announced that it plans to utilize NEAR’s data availability and fast finality layer products to offer rollups and enhance ecosystem development. The startup is backed by investors such as Electric Capital, Taisu Ventures, and Shima Capital, supporting its vision of intent-centric, event-driven autonomous transactions for Ethereum and beyond.
This funding will support the development of cross-chain smart contract automation, enabling contracts to execute based on predefined conditions. The company focuses on improving on-chain data management and combating misinformation, aiming to utilize the funds to develop systems that improve scalability and efficiency in blockchain ecosystems.
Another company raised $5.8 million in a seed round led by Paradigm and cyber.Fund. The startup aims to bridge traditional financial services with decentralized finance (defi) tools through its decentralized settlement protocol.
Other backers in the pre-seed round included Outlier Ventures, Big Brain Holdings, and Maven Capital. The funds will be utilized to help this company develop its web3 settlement infrastructure, targeting crypto projects in their earliest development stages.
It was reported that Paradigm, a firm, raised a fund targeting crypto projects in their earliest development stages. Paradigm has been an early supporter of key industry players like Uniswap, the decentralized exchange; Optimism, an Ethereum layer 2 solution; and Flashbots, a project focused on MEV concepts.
This fund was confirmed on June 13, positioning Paradigm at the forefront of the next wave of crypto projects after the early April reports about it raising the fund.