Irys, previously known as Bundlr Network, is a storage layer innovator dedicated to scalable on-chain data solutions. The company recently secured a strategic funding round, positioning them for the next phase of growth. CEO Josh Benaron expressed enthusiasm about the funding, stating that it reflects investors’ confidence in their vision and ability to bring the world’s data onchain. The rebrand to Irys aligns with the company’s updated mission and expanded focus.
While initially focused on improving storage throughput through transaction bundling, Irys is now also prioritizing contributions to provenance, performance, and scalability in on-chain data. The company aims to solidify its position in the Web3 ecosystem and accelerate its growth with the new funding. Irys provides a platform for securely tracking and confirming the origin of data, setting the stage for permanently storing data with precise attribution, thereby rebuilding trust in digital information. The company’s efforts to combat the proliferation of misinformation have garnered support from investors like Roderik van der Graaf, Founder and Managing Partner at Lemniscap, who expressed excitement about Irys’ mission and the importance of precise data attribution.
The recent funding round is crucial for Irys’s operations and mission. The company is dedicated to transforming data usage to address the evolving needs of developers and businesses, and the funding will enable them to further develop their technology and solidify their role in the future of on-chain data management.