16 August 2023
Frans Scholten, Venture Capital Lead, commented:
“We are excited to participate in Linera’s latest seed round and invest in this innovative blockchain technology that is set to tackle challenges faced by web3 applications. Linera’s goal to leverage the scalability of web2 applications and translate them into improved performance and responsiveness of web3 solutions is something we believe is key to the adoption of web3 applications. By removing today’s challenges, these applications can develop at an accelerated pace. Furthermore, Linera’s ambition to bridge digital assets and traditional applications is fully aligned to Flow Traders’ investment strategy and we are looking forward to supporting them.”
Linera was created to tackle reliability and responsiveness challenges at scale that web3 applications face. Solving these challenges is essential for applications like payments, messaging, and trading. Linera’s approach is to build novel blockchain architecture is centered around adding “microchains,” lightweight chains running in parallel in the same set of validators. Validators can add and remove capacity at any time, closing the gap between web2 and web3 applications by delivering blockchain infrastructure that ensures scalability, performance, and responsiveness.
Mathieu Baudet, founder and CEO of Linera, added:
“We’ve taken a step back to completely redesign a blockchain infrastructure that scales from the start. We look forward to continuing to build the Linera protocol supported by strong investors, including those in the digital assets ecosystem.”
Linera was founded by Mathieu Baudet, former Meta researcher on the Novi digital payments wallet and a cryptographic protocols specialist. Co-investors include a16z, Borderless Capital, Laser Digital, Cadenza, Tribe Capital, Matrixport, and GSR Markets.