Kava Labs Secures $1.2 Million in New Funding to Develop Interledger Blockchain Solutions
Kava Labs recently announced that they have raised $1.2 Million in funding led by Lemniscap and Digital Asset Capital Management, along with other investors including Xpring of Ripple, Coil Technologies, 2020 Ventures, Arrington Capital, Hard Yaka, Robot Ventures, UniValues Associates, and a number of private investors.
Very happy to announce we've closed our seed round of funding!
— Kava Labs (@kava_labs) February 28, 2019
Kava is the world's first Interledger solutions provider focused on bringing blockchains, wallets, and exchanges the interoperability of Interledger. Kava leads the cross-chain development efforts of the Interledger community and is working with leading blockchain projects, wallet providers, and exchanges to integrate their users, liquidity, and services into Interledger. There are based in San Francisco and Cambridge.
The new funds will be utilized to further the development of their Interledger solutions for blockchain technology. These solutions are essential for not only the company but the entire ecosystem as a whole as they look the solve the problems with scaling, interoperability, and liquidity.
Brian Kerr, Cofounder of Kava Labs said:
“We’re excited to move into 2019 with a great set of partners supporting us that believe in our team and the importance of what we are building for the ecosystem.”
Their other co-founder, Scott Stuart added:
“The solutions Kava is developing are vital keys to the success of the blockchain industry as a whole as they solve the scaling, interoperability, and liquidity challenges limiting blockchain technology today.”
Ethan Beard, the Senior VP of XSpring stated:
“The Kava team is dedicated to the vision of interoperability in payments and amongst blockchains. We are excited to partner with them as they build out the Internet of Value and enable seamless value transfer through Interledger.”