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Ava Protocol Secures $10M Seed Funding to Boost Autonomous Transactions
The post Ava Protocol Secures $10M Seed Funding to Boost Autonomous Transactions appeared on BitcoinEthereumNews.com. Formerly known as OAK Network, Ava Protocol has announced that $10 million in seed investment has been completed. This includes a $5.5 million initial round and a subsequent $4.5 million seed+ round. The funds will go toward helping Ava Protocol develop an Eigenlayer AVS that is intent-centric and event-driven, enabling private autonomous transactions on Ethereum and beyond. The current seed+ round’s lead investors include BingX Exchange, Taisu Ventures, Electric Capital, Bloccelerate VC, and Shima Capital. They join previous seed investors including Greylock, Foundation Capital, GSR, and Polygon founder Sandeep Nailwal. Chris Li, Founder of Ava Protocol, said: “We’re grateful to our seed and seed+ investors for believing in our vision of bringing composable autonomous transactions to web3 and for accompanying us on this journey. We’re confident that their faith will be rewarded as we move towards our mainnet and onboard more ecosystem partners who will provide real-world proof of the efficiency that Ava Protocol’s super-transactions introduce for payment and smart contract data.” Ava Protocol Head of Marketing Sam Shev added: “With the support of our seed investors, everything is in place to onboard additional partners who will be the first to leverage Ava Protocol’s Eigenlayer AVS. We’re looking forward to discovering the many ways in which builders harness this technology to unlock new use cases spanning DeFi, gaming, insurance, automated trading, and much more.” Jerry Chen of Greylock, which participated in the seed round, said: “We were impressed with Ava Protocol’s solution for elevating blockchain payments from simple one-time events to sophisticated streams that can accommodate a wide range of use cases while eliminating complexity from the perspective of dapp developers. There’s a myriad of practical applications for Ava Protocol’s payment technology and we look forward to seeing it transform sectors such as DeFi, NFTs, and RWAs.” The development of fundamental web3 infrastructure for intent-based…
The post Ava Protocol Secures $10M Seed Funding to Boost Autonomous Transactions appeared on BitcoinEthereumNews.com.
Formerly known as OAK Network, Ava Protocol has announced that $10 million in seed investment has been completed. This includes a $5.5 million initial round and a subsequent $4.5 million seed+ round. The funds will go toward helping Ava Protocol develop an Eigenlayer AVS that is intent-centric and event-driven, enabling private autonomous transactions on Ethereum and beyond. The current seed+ round’s lead investors include BingX Exchange, Taisu Ventures, Electric Capital, Bloccelerate VC, and Shima Capital. They join previous seed investors including Greylock, Foundation Capital, GSR, and Polygon founder Sandeep Nailwal. Chris Li, Founder of Ava Protocol, said: “We’re grateful to our seed and seed+ investors for believing in our vision of bringing composable autonomous transactions to web3 and for accompanying us on this journey. We’re confident that their faith will be rewarded as we move towards our mainnet and onboard more ecosystem partners who will provide real-world proof of the efficiency that Ava Protocol’s super-transactions introduce for payment and smart contract data.” Ava Protocol Head of Marketing Sam Shev added: “With the support of our seed investors, everything is in place to onboard additional partners who will be the first to leverage Ava Protocol’s Eigenlayer AVS. We’re looking forward to discovering the many ways in which builders harness this technology to unlock new use cases spanning DeFi, gaming, insurance, automated trading, and much more.” Jerry Chen of Greylock, which participated in the seed round, said: “We were impressed with Ava Protocol’s solution for elevating blockchain payments from simple one-time events to sophisticated streams that can accommodate a wide range of use cases while eliminating complexity from the perspective of dapp developers. There’s a myriad of practical applications for Ava Protocol’s payment technology and we look forward to seeing it transform sectors such as DeFi, NFTs, and RWAs.” The development of fundamental web3 infrastructure for intent-based…
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