Versatus Labs, a startup focused on Ethereum scaling, successfully raises an additional $2.3m in seed funding.
Blockchain scaling startup, Versatus Labs, has raised an additional $2.3 million in funding for its stateless rollup technology, bringing its total value to $50 million. NGC Ventures and Republic Crypto, prominent players in the blockchain sector, contributed to this funding round. The company’s total funding now stands at $3.7 million, with investments from various sources. This funding will primarily support the launch of Versatus LASR, a product aimed at facilitating the transition from web2 to web3 for developers. Versatus has also formed partnerships with EigenLayer, Stader Labs, and Anagram. Versatus’s stateless rollup technology offers a more efficient way to verify smart contract transactions, regardless of the programming language used, addressing challenges in the Ethereum network. It differs from traditional rollups by operating off-chain, reducing the need for state and data storage. The technology also enables asset transfers between blockchains and cross-chain contract integrations. Versatus Labs aims to enhance the developer experience in the web3 domain with its latest funding.
