Mathieu Baudet from Linera has announced that the team has been successful in raising additional funds worth $6 million. This brings the total to $12 million in funds raised for Microchains. Mathieu hails from the venture as its Founder and Chief Executive Officer. The funding round was led by Borderless Capital. Other participants were Block1, GSR Markets, ArkStream, Laser Digital Ventures, and Eternal Capital, among many others. Most of them are new investors getting on board, signaling the expansion in the ecosystem of Linera.
Funds raised through the initial seed round will be deployed for the benefit of Linera. This means that the team will utilize the funds in its expansion, making presence felt in the APAC region and launching testnet & devnet of the protocol.
Microchains are basically a collection of lightweight blockchains that runs parallel to a single set of validators. With Microchains, Linera is aiming to bring infinite scalability of Web2 in the upcoming Web3 system. The next generation of developers would study the shift from SQL to NoSQL as it works to scale Web2 applications.
Mathieu has expressed excitement in the announcement, stating that all the investors are backed by a track record of sharing the same vision.
Alpen Sheth from Borderless Capital has applauded the innovation by saying that it is something new and a necessary evolution. Alpen has further acknowledged that Microchains are necessary if applications want to scale their performance in Web3 right from the beginning. Support will be available for several types of applications, including, but not limited to, messaging, payments, and trading. Mcrochains are expected to benefit billions of users all over the world.
Alpen Sheth is the Senior Partner at Borderless Capital, a venture that led the fundraising round for Linera’s Microchains.
Ali Yahya, the General Partner of a16z crypto, has echoed a similar tone. Yahya has said that the team has come up with a multi-chain architecture that is tasked with unlocking a broader design space for end users and developers. Yahya has also stated that the architecture of the project is truly innovative.
a16z crypto is one of the financiers that has been backing Linera since the beginning of Microchains.
Moving forward, Mathieu has expressed that Linera is kickstarting Developer School on September 08, 2023. Submissions will become due on October 15, 2023. The program will enable developers to build along with Linera, provided they have a mutual vision for the future. Also, Linera has plans to grow the list of its core contributors.
The community can expect Linera to soon release the Linera Devnet. Improvements in SDK are awaited as well.
This follows a part of the announcement wherein it has been stated that the test version of Linera SDK is now available. Developers can test their applications locally, irrespective of the language they choose. This is imperative for the future since Linera is looking to welcome any other language that developers may want to use.
Source: https://www.cryptonewsz.com/linera-raises-6m-usd-in-funding-for-microchains/