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Sequoia, Dragonfly Back Web3 Startup Caldera in $9M Rounds
The capital will go towards hiring, partnerships and integrations.
Caldera, which provides infrastructure for Web3 applications, has raised $9 million across two funding rounds led by traditional finance giant Sequoia Capital and crypto-native firm Dragonfly.
The new capital will go toward hiring, partnerships and integrations, according to a Medium post.
STORY CONTINUES BELOW
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Caldera allows app developers to launch and run dedicated layer 2 blockchain “rollups” – lightweight, customizable blockchains that inherit security from another blockchain such as Ethereum but offer faster speeds and lower fees for an app’s transactions.
Early last year, Sequoia Capital announced it was looking to raise $600 million for its first crypto fund. In April, Dragonfly raised $650 million for its third industry fund.
Other investors in the rounds included Neo, 1kx, and Ethereal Ventures.
Read more: Crypto Winter Led to 91% Plunge in VC and Other Investments for January
Brandy Betz
Brandy covered crypto-related venture capital deals for CoinDesk. She previously served as the Technology News Editor at Seeking Alpha and covered healthcare stocks for The Motley Fool. She doesn't currently own any substantial amount of crypto.
