Linera Becomes Part of the Eterna Capital Portfolio
We are excited to officially announce our recent investment into Linera.
OFFICIAL ANNOUNCEMENT here.
Linera is a new Layer-1 blockchain designed to bring the elastic scaling of Web2 to Web3.
Our investment in their $6m Seed round extension was led by Borderless Capital, with participation from Laser Digital (Nomura), DFG, Cadenza, Block1, MH Ventures, Matrixport, L2IV, ArkStream, Flow Traders, GSR Markets, and Open Web Collective (OWC), with continued support from a16z crypto, Tribe Capital, and Cygni Capital, who participated in the initial seed round. With this follow-on investment round, Linera has now secured a total of $12M in seed funding.
Web3 is here, but it still faces issues, particularly around scaling. Currently, the competition for blockspace in traditional Layer-1 blockchains, coupled with limited production rates and block sizes, creates a bottleneck during traffic peaks, leaving users outpriced or delayed, rendering the infrastructure effectively unavailable. For Web3 to gain mass adoption, then a solution for this must be solved.
Linera is the first Layer-1 blockchain infrastructure optimised to provide low-latency Web3 applications with unprecedented horizontal scaling. Founded by Mathieu Baudet, former Meta researcher on the Novi digital payments wallet (part of the Libra/Diem project) and a cryptographic protocols specialist, Linera’s pioneering technology aims to bring Web2 scalability to Web3 applications by introducing an unlimited number of user chains powered by an elastically scalable network. Their groundbreaking microchain model grants each individual user their own lightweight chains, streamlining interactions between their wallets, browser extensions, or mobile devices.
Linera has taken a step back and designed a Layer-1 blockchain infrastructure that scales from the start. This will be game-changing for the most demanding Web3 applications as it will give them predictable performance, security, and responsiveness at the Internet scale. As such, Linera will empower developers to create high-speed Web3 applications used by a large number of active users in parallel, revolutionising decentralised infrastructure for a variety of use cases, including retail payments, gaming micro-payments, messaging, proprietary trading, and blockchain bridges.
With this follow-on investment round, Linera will be expanding the team, launching a devnet and a testnet for the protocol, and fostering a strategic presence in the APAC region while continuing to grow their developer programs. The initial version of the Linera SDK is now available for testing, allowing developers to prototype Linera apps and test them locally.
With our participation in this round, we are pleased to be part of Linera’s vision to bring Web2 performance and reliability to Web3 and in doing so, paving the way for the next generation of Web3 applications.
About Linera
Linera is the first low-latency blockchain designed to scale elastically like web2 applications. Founded by Mathieu Baudet, a former Meta Novi engineer and researcher, with a PhD in cryptographic protocols, Linera revolutionizes blockchain scalability by introducing microchains, removing mempools, and minimizing validator interactions. Linera optimizes performance for web3 applications used by a large number of active users in parallel, enabling unprecedented horizontal scalability for use cases such as retail payments, gaming micro-payments, messaging, proprietary trading, and blockchain bridges.
For more information, visit https://linera.io/ or follow Linera on Twitter.
About Eterna Capital
Eterna Capital is an investment company focused on blockchain technology. Eterna Capital supports entrepreneurs that envision bold innovative ideas, and have the plan in place to make them happen. Eterna Capital is committed to help them reach their ambitious goals by providing unique insights and support.
For more information, visit www.eternacapital.com or follow Eterna Capital on LinkedIn and Twitter.
Disclaimer: This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment and should not be used in the evaluation of the merits of making any investment decision. It should not be relied upon for accounting, legal or tax advice, or investment recommendations. This post reflects the current opinions of the authors and does not necessarily reflect the opinions of Eterna Capital, its affiliates, or individuals associated with Eterna Capital. The opinions reflected herein are subject to change without being updated.
