Nirvana Labs, a blockchain cloud company, has raised $4 million in startup funding.
Castle Island Ventures and RW3 Ventures co-led the round. Additional support came from BitGo Ecosystem Fund, Hash3, Third Earth, and Play Ventures. The seed round brings Nirvana Labs’ total funding over the past six months to $5.7 million, according to a company press release shared with The Block.
Nirvana Labs is developing a cloud infrastructure designed for web3 purposes. The product, Nirvana Cloud, is used by prominent crypto companies such as Chainlink, BitGo, Goldsky, Thirdweb, and Pairpoint.
“At Nirvana Labs, we understand the unique challenges faced by companies building on-chain applications within the confines of general-purpose clouds,” Nirvana Labs founder Devin Bandara said in a statement. “This funding will allow us to enhance our purpose-built cloud offerings to provide a web3-only alternative to traditional cloud providers. Our goal is to provide our customers with unparalleled cloud performance and cost savings as a new generation of alternative clouds emerge in the web3 space.”
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About the Author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin first broke $20,000. Since then, MK has written nearly 1,000 articles for the publication, covering all aspects of crypto news but with a penchant for NFTs, metaverse, web3 games, fundraising, crime, hacking, and crypto ecosystem stories. MK holds a graduate degree from the Science, Health, and Environment Reporting Program (SHERP) at New York University and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.