Lava Network raises $15 million Seed round to build infrastructure for scaling blockchain data access
The Israeli startup is building a modular network making it easy for developers and users to access blockchain through RPC & indexing
Lava Network, led by Israeli founders Yair Cleper and Gil Binder, has raised $15 million in a Seed round led by Jump Capital, Hashkey Capital and Tribe Capital.
Full list of Israeli high-tech funding rounds in 2024
Other investors include Alliance, Node, North Island, Quiet, Finality, Dispersion Capital, and the early Seed investors of the top infrastructure providers Alchemy, Blockdaemon, ConsenSys (Infura) and QuickNode. Also, validators, ecosystems and founders of Cosmos, Polkadot, Filecoin, StarkWare, Axelar, NEAR, Celestia, Celo, and more joined the round.
Lava is building a modular network to make it easy for developers and users to access blockchain through RPC (Remote Procedure Call) & indexing. RPC is critical for web3. All crypto applications must make RPC requests to send and retrieve blockchain data; indexing offers more specialized data requests.
Lava is a permissionless three-sided marketplace for blockchain data. Consumers get data from Lava; RPC Node Providers join Lava, serve data and receive rewards; and Champions add more modules for Providers to serve, extending Lava to in-demand chains and APIs.
In the future, Lava aims to bring its modular approach to oracles, sequencing and other data infrastructure, serving as a permissionless everything store for any web3 service.
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Lava is working directly with ecosystems through its Incentivized Public RPC program, and node providers joining Lava have received hundreds of thousands of token incentives from chains, including NEAR, EVMOS and AXL.
This initiative, launched in October 2023, has already signed partnerships with NEAR, Evmos, Axelar, Starknet, Koii, Agoric and more.
“At Lava, our vision is to unlock innovation across web3 by giving developers total flexibility to build with the most performant and scalable infrastructure,” said Yair Cleper, Founder and Core Contributor of Lava. “For a long time, infrastructure providers decide which chains to serve - they control the keys to all the doors. Developers use Lava to build whatever, wherever.”
