Irys raises $8.9 million in a funding round led by Lemniscap
06/12/24, 12:39 PM
Location
londonMoney raised
$8.9 million
Investors
Daniel Cheung, Ryan Watkins, Berachain Co Founder Smokey The Bera, Ev3, Permanent Ventures, Hypersphere, Primitive Ventures, Framework, Lemniscap
On-chain data developer Irys closed a $3.7 million funding round led by the crypto-focused venture firm Lemniscap. The company has expanded its services beyond bundling transactions to enhance storage throughput for developing scalable on-chain data, and is building infrastructure to trace and verify data in order to combat digital misinformation. The fundraise will be used to bolster data throughput and storage efficacy, scale the infrastructure for transaction volume, and create strategic partnerships to widen the firm's market reach.
Company Info
Location
london, england, united kingdom
Additional Info
As the only provenance layer, Irys emerges as the source of credibility in a turbulent sea of misinformation. By scaling permanent data and enabling users to precisely attribute its origin, Irys paves the way to incorporate accountability into all information.
When data testifies its origin, trust reigns and misinformation becomes a tale of the past. Irys stands as a witness for humanity.