Share this article
Ex-Meta Engineer’s Layer-1 Blockchain Linera Raises $6M in New Funding
The layer-1 blockchain’s initial seed funding round was led by a16z crypto and has now raised $12 million in total.
Updated Aug 16, 2023, 1:39 p.m. Published Aug 16, 2023, 1:00 p.m.
Linera, a layer-1 blockchain attempting to tackle scalability issues using ‘microchains,’ said it closed a new $6 million funding round led by venture capital fund Borderless Capital.
The firm - founded by a former Meta Novi (Meta’s digital wallet, which will terminate in September) engineer Mathieu Baudet - has now raised a total of $12 million in funding. Linera will be using the new funding for “expanding the team, launching a devnet and a testnet for the protocol and fostering a strategic presence in the APAC region while continuing to grow their developer academy,” the company said in a statement.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The layer-1 is pioneering the idea of “microchains” within the blockchain, according to the press release. “The competition for blockspace in traditional layer-1 blockchains, coupled with limited production rates and block sizes, creates a bottleneck during traffic peaks, leaving users outpriced or delayed, rendering the infrastructure effectively unavailable,” the press release said.
Linera is battling this issue by adding smaller chains into its network rather than increasing the size or production rate of the blocks. This model allows each user to have its lightweight chains, which integrate into browser extensions and mobile devices for Web3 app interactions within the users’ wallets.
The project is looking to bring similar expansion capabilities of Web2 into Web3 apps by allowing an unlimited number of smaller user chains, said the release.
The investors in the new round include Laser Digital Ventures (Nomura), Flow Traders and Eterna Capital. A16z crypto led the company’s initial seed round last year alongside Tribe Capital.
Read more: A16z Leads $6M Seed Funding Round in Blockchain Linera
Mehr für Sie
Was Sie wissen sollten:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Mehr für Sie
Coinbase Reopens India Signups, Targets Fiat On-Ramp in 2026 After Two-Year Freeze
Coinbase halted services entirely in 2023, off-boarded millions of Indian users and shuttered local access while reassessing regulatory exposure.
Was Sie wissen sollten:
- Coinbase has resumed onboarding users in India, marking its return to the market after a two-year hiatus due to regulatory issues.
- The exchange is currently allowing crypto-to-crypto trading and plans to reintroduce fiat on-ramps next year.
- Despite regulatory challenges, Coinbase is investing in India, including increasing its stake in local exchange CoinDCX.
Top Stories
