Web3 Startup Anode Labs Closed $4.2 Million Funding Round

Web3 startup Anode Labs closed a $4.2 million funding round led by Lerer Hippeau and Lattice, with participation from VaynerFund, CoinShares, Digital Currency Group, and others.

Anode Labs is the team behind React Network, a platform built to create a layer of flexibility that blankets power grids, providing the necessary support to enable further decarbonization of the greater electric network.

React Network will allow participants to connect their home batteries to the company’s Web3 network to be rewarded for the relative contribution of their specific assets.

Co-CEO of Anode Labs, Dallas Griffin, stated:

“We’re incredibly honored to have these successful firms onboard and believe in our team’s vision to modernize a widely antiquated energy grid.”

The funds raised will be used to develop the world’s first community-owned decentralized Web3 platform that provides cash and tokenized rewards for small businesses and individuals to connect their energy storage assets.

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