Nirvana Labs acquires Vektor to boost multichain functionality of its web3 cloud services

Nirvana Labs has acquired multichain query and execution platform Vektor to enhance its cloud computing services for the blockchain and crypto industry.

The acquisition aims to allow Nirvana Labs to offer Vektor's onchain workflows as a managed service, bringing multichain functionality for developers across onchain data collection and execution, according to a statement shared with The Block.

Vektor’s integrations support over 50 protocols across over 15 chains, enabling developers to query, compose and execute activities across multiple blockchains simply and efficiently. This includes reading and executing swaps, bridging, lending and borrowing at venues such as Curve, Balancer and Uniswap v3.

“Vektor has completely redefined how developers interact with protocols for data and execution, and by integrating Vektor's technology, we are dedicated to expanding the number of web3 managed services that Nirvana Cloud offers,” Nirvana Labs CEO Dan Burke said.

Nirvana Labs noted that robust infrastructure and innovative tools are increasingly critical as the demand for web3-specific hosting solutions increases.

"We are excited to be joining Nirvana Labs and leveraging their unparalleled web3 cloud infrastructure to empower developers with the most advanced tools for complex onchain development," Vektor co-founder and CEO Andy Bryant said.

Vektor co-founder and CTO Akram Hussein added that they built the platform "to simplify and supercharge the onchain development experience and are thrilled to offer this to developers on the most robust web3 hosting platform we have found in the market."

Nirvana Labs raises $5.7 million in six months

According to the firm, Nirvana Cloud is used by prominent crypto firms such as Chainlink, BitGo, Goldsky, Thirdweb and Pairpoint.

In July, Nirvana Labs announced it had secured $4 million in a seed funding round co-led by Castle Island Ventures and RW3 Ventures to enhance its Web3 cloud services. This brings the firm’s total funding raised in the past six months to $5.7 million.

"At Nirvana Labs, we understand the unique challenges faced by companies building on-chain applications within the limitations of general purpose cloud," Nirvana Labs founder Devin Bandar said at the time. “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."