Castle Island Ventures and RW3 Ventures lead $4 million seed round for web3 cloud firm Nirvana Labs
Nirvana Labs, a blockchain cloud firm, raised $4 million in seed funding.
Castle Island Ventures and RW3 Ventures co-led the round. Additional support came from the BitGo Ecosystem Fund, Hash3, Third Earth and Play Ventures. The seed round brings Nirvana Labs's total funding in the past six months to $5.7 million, according to a company release shared with The Block.
Nirvana Labs is developing cloud infrastructure designed for web3 purposes. Its product, Nirvana Cloud, is used by prominent crypto firms 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 limitations of general purpose cloud," said Nirvana Labs founder Devin Bandara in a statement. "This funding will allow us to enhance our specialized cloud services, providing a web3-specific alternative to conventional cloud providers. Our goal is to deliver unparalleled cloud performance and cost savings for our customers, as the new generation of alternative clouds emerge for the web3 space."
