$5.3 Million Raised By Company Scale3 To Launch Web3

Scale3 is a web3 infrastructure startup founded by two former Coinbase employees and in a seed funding round they raised $5.3 million

Ola Muse and Karthik Kalyanaraman are former Coinbase employees who quit in August and tried within 2 months of seeding. Scale3 Labs has emerged from stealth mode with a fundraising announcement. The round was led by Redpoint Ventures, with participation from Mysten Labs and Howard University. Scale3 is an infrastructure startup specifically focused on serving blockchain node operators.

Kalyanaraman said that running nodes today is “super hard” for many blockchains. Nodes are an integral part of the blockchain network validating transactions and keeping the network secure. Muse says operators currently take about eight hours to update their nodes, and Scale3 reduces that time to “under 20 minutes”.

Scale3 provides a platform that works all the backends and provides direct links for updates, similar to how an average web user updates their app from the app store, and also provides a monitoring dashboard that provides real-time updates from blockchain creators.

Scale3 now supports Mysten Labs’ Sui blockchain on its platform, called Autopilot. Next, it plans to support Ethereum, Solana, and Aptos. Muse said Scale3 aims to support the top 10 blockchains over the next six months.

It has planned after new funding to grow its team and ecosystem, expand its team to 20 people early next year and will focus on engineering, product, and marketing.

Currently, It has no plans to issue its own native token, nor has it given a valuation to the company, nor has it added any additional boards.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Elise

CoinCu News