This influx of capital, coupled with the addition of seasoned human capital, will fuel the company's mission to democratize cost-effective, high-performance computing tailor made for a blockchain industry that is currently confronted with spiraling cloud costs.

RW3 Ventures led the funding with participation from Raptor Group, Blizzard Fund (Avalanche), Hash3, Lattice Fund, QCP Capital, and a group of prominent angel investors. Dan Burke, previously Managing Director and APAC head at BitGo and Qredo, joins firm as CEO.

Founded in 2022 by Devin Bandara, Nirvana Labs started with a straightforward mission: to build infrastructure that enables web3 entities to slash cloud costs, boost critical performance metrics like speed and availability, and reduce dependencies on conventional cloud services. Nirvana Labs's core products such as its bare metal cloud and managed blockchain nodes deliver enlightening blockchain infrastructure to web3, democratizing high performance computing for all participants in the web3 ecosystem.