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Nirvana Labs Raises $6M in Seed Extension to Expand Web3 Cloud Services
Nirvana Labs, a high-performance cloud provider tailored for Web3, has announced a successful $6 million seed extension round, co-led by Crucible Capital and Jump Crypto. This round brings Nirvana’s total funding to $11.8 million and is expected to accelerate the company's mission to build next-generation Web3 infrastructure. Crucible Capital’s Meltem Demirors will also join Nirvana’s board as part of the partnership.
Nirvana Labs focuses on delivering bare-metal speed, dedicated infrastructure, and optimized storage for the most demanding blockchain workloads. With this new funding, the company aims to continue reducing Web3 reliance on traditional hyperscalers, aiming to slash costs and improve performance for decentralized applications (dApps) and blockchain networks.
A New Era for Web3 Cloud Infrastructure
Since launching in January 2024, Nirvana has seen remarkable growth, with its revenue increasing by 26x as it began providing blockchain-specific infrastructure solutions. The company’s proprietary cloud stack, which combines crypto-optimized hardware, custom networking, and high-speed storage, has disrupted the traditional cloud space by offering cost-effective alternatives to general-purpose cloud providers. Nirvana’s solution promises to reduce cloud infrastructure spending by over 65%, making it an attractive option for blockchain-based services.
Operating across 11 global data centers and managing over 2,000TB of blockchain data, Nirvana powers leading blockchain protocols, dApps, and high-frequency traders (HFTs). Customers like BitGo, Thirdweb, and IOTA rely on Nirvana for its low-latency hosting and highly efficient managed services.
Reducing the Costs of Blockchain Infrastructure
The company’s latest funding will be used to expand its cutting-edge chipsets, NVMe storage capacity, and next-generation networking technologies. With these advancements, Nirvana plans to continue scaling its infrastructure to meet the growing demand for high-performance compute and storage needs within the Web3 ecosystem.
Dan Burke, CEO of Nirvana Labs, remarked, “Cloud wasn’t built for Web3. We’re rebuilding it from the ground up, powering the compute, storage, and transport layer for a decentralized internet that actually performs.” He continued, emphasizing the company's dedication to providing high-performance computing for the Web3 industry.
Crucible Capital and Jump Crypto Back Innovation in Web3
Meltem Demirors, General Partner at Crucible Capital, explained the strategic importance of this partnership. She highlighted how the Web3 industry, which consumes massive amounts of compute, storage, and bandwidth, has been reliant on hyperscalers, creating high costs and dependency. “Nirvana is a crypto-native cloud provider that co-locates high-throughput storage with compute, reducing both the cost and complexity of blockchain infrastructure operations,” Demirors said.
Jump Crypto, a major player in the crypto infrastructure space, also sees great promise in Nirvana’s model. With their support, Nirvana plans to continue expanding its services for the decentralized internet, pushing the boundaries of what’s possible for Web3 infrastructure.
Nirvana’s Competitive Edge in Web3 Cloud Services
Nirvana’s cloud offering provides clear advantages over traditional cloud providers, especially when it comes to cost-efficiency and performance. Egress costs are reportedly 90% cheaper than those of major cloud providers, and Nirvana’s infrastructure outperforms legacy clouds in key areas like CPU utilization, IOPS, and network efficiency.
The company’s high-performance infrastructure has earned the trust of leading blockchain firms and protocols. In addition to the aforementioned clients, Nirvana’s infrastructure supports companies like Paxos, Flipside, and Goldsky, demonstrating the scalability and reliability of its services.
A Strong Position for Future Growth
With this new round of funding, Nirvana Labs is well-positioned to continue its rapid growth and expand its market share in the Web3 cloud space. By building on its innovative infrastructure solutions and growing customer base, Nirvana aims to remain at the forefront of the blockchain and crypto ecosystems, delivering decentralized computing power that meets the demands of the future.
As the blockchain industry shifts toward multi-cloud strategies to reduce hyperscaler centralization, Nirvana is setting itself up as the go-to provider for decentralized cloud infrastructure that accelerates the adoption of Web3 technologies.
