Nirvana Labs, a startup specializing in cloud services for the cryptocurrency world, announced it has raised $6 million in additional seed funding led by 'Jump Crypto' and 'Crossbell Capital', bringing its total funding to $11.8 million. The company aims to reduce the cryptocurrency sector's reliance on platforms such as 'Amazon Web Services' and 'Google Cloud', which are costly and pose centralization risks, especially with the need for massive storage spaces like the 'Solana' nodes that consume 700 terabytes.
Nirvana relies on pure bare metal infrastructure where each server is dedicated to a single client, with processors optimized for heavy workloads, reducing costs by up to 75% compared to traditional platforms. It also works with companies like 'Bit Go', 'Avalanche', and 'Parachain', and has achieved a 26-fold revenue growth since January 2024, managing over 2000 terabytes of blockchain data.
Key details:
- Problem: Reliance on 'Amazon' and 'Google' raises costs and exposes to centralization risk.
- Solution: Dedicated infrastructure without intermediaries, with diversified data centers to increase flexibility.
- Funding: Participation from companies like 'RW3 Ventures' and 'Castle Island'.
- Developments: 'Meltem Demirors' from 'Crossbell Capital' joined the board of Nirvana Labs.
