October 31, 2024
Spire Labs has secured $7 million in seed funding to propel its Based Stack project. The funding round, completed on October 31, 2024, was co-led by Maven 11 Capital and Anagram, with support from a diverse group of investors, including the a16z Crypto Startup Accelerator and Digital Currency Group. Angel investors such as Nick White of Celestia Labs also contributed to this funding milestone, which was structured as a simple agreement for future equity (SAFE).
Spire Labs is aiming to revolutionize Ethereum's scaling capabilities with its Based Stack, a rollup framework designed to allow developers to create application-specific chains, or appchains. This initiative seeks to address a growing demand for enhanced functionality without sacrificing the advantages of the Ethereum Layer 1 ecosystem. With a focus on "based sequencing," Spire’s framework enables app developers to utilize Ethereum as the sequencing layer, providing essential benefits such as decentralization, liveness, and censorship resistance. Moreover, it offers the potential for capturing Maximal Extractable Value (MEV) that traditionally flows to sequencers.
Kaito Yanai, co-founder of Spire Labs, emphasized the necessity of maintaining a connection to Ethereum while developing appchains, citing a prevalent concern among DeFi developers regarding fragmentation within the ecosystem. By unifying liquidity and user engagement, Spire Labs aims to create a more cohesive environment for decentralized applications. The company is currently in the final stages of developing its first testnet for the Based Stack, with plans to launch it by year-end, followed by a mainnet launch projected for the first quarter of 2025.
About Spire Labs
Spire Labs is dedicated to advancing Ethereum scaling solutions through its innovative Based Stack framework. Founded in San Francisco, the company aims to enable developers to deploy customized appchains that leverage the full potential of the Ethereum blockchain while addressing existing challenges in scalability and connectivity.
Website: https://www.spire.dev/
X: @Spire_Labs
About Investor
Maven 11 Capital
Maven 11 Capital is an Amsterdam-based venture capital firm specializing in blockchain and digital asset investments. The firm seeks to support innovative projects that are reshaping the blockchain landscape through strategic funding and expertise.
Location: Amsterdam, Netherlands
Website: https://www.maven11.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
留言