Recently, with Bitcoin returning to $100,000, the overall market sentiment has rebounded again, and projects have sprung up like mushrooms after a rain. DeFi, cross-chain protocols... have emerged one after another, and the "foundation" supporting these applications - the blockchain infrastructure, is also quietly upgrading.
On May 13, Blockworks reported that blockchain cloud service company Nirvana Labs completed a $6 million seed extension round of financing, led by Jump Crypto and Crucible Capital, with participation from RW3 Ventures, Castle Island, Hash3 VC and others.
Can Nirvana Labs shake up the traditional cloud hegemony?
Nirvana Labs is a company focused on blockchain cloud services. Nirvana Labs has developed Nirvana Cloud, a cloud infrastructure designed specifically for Web3 applications.
Unlike traditional AWS and Google Cloud, Nirvana provides high-performance, low-latency, and low-cost "bare metal" cloud computing services. In simple terms, it provides Web3 projects with a more personal and powerful "dedicated host."
Nirvana Labs is in the blockchain infrastructure, specifically Web3 dedicated cloud computing services, which is a key link in the blockchain infrastructure. The target users are also clear: on-chain high-frequency trading teams, dApps developers, verification node operators, Web3 data service companies, and even blockchain foundations, etc.
Why is this track important? Because traditional cloud services are increasingly struggling in the blockchain environment: high costs on one hand and inefficient performance on the other. The needs of Web3 projects are just the opposite - they desire extreme performance and extreme cost-effectiveness.
From the perspective of the industry as a whole, blockchain infrastructure projects are currently in an explosive period, and the explosive growth has directly driven the demand for basic services. Nirvana Labs also intends to reap the benefits of this wave - according to them, more and more Web3 projects are turning from traditional clouds to dedicated bare metal solutions such as Nirvana to reduce costs and improve performance.
What’s more interesting is that although Nirvana currently provides centralized cloud services, this does not violate the decentralized concept of Web3. On the contrary, it provides a “realistic path to transition to decentralization”, building a more stable foundation for the entire ecosystem while ensuring performance.
How fast is Nirvana Labs growing?
The company was founded in 2022. In just over two years, it has already supported more than 60 blockchain networks, covering EVM and non-EVM chains. The customer lineup is very impressive, including Chainlink, Avalanche, BitGo, Thirdweb, Xai, Berachain, etc., which are all well-known projects.
In 2024, the company's revenue soared 650%, and its monthly transaction volume maintained a month-on-month growth of 152%. In May 2025, they completed a new round of $6 million in seed extension round financing, bringing the total financing amount to $11.8 million.
This round was jointly led by Jump Crypto and Crucible Capital, and RW3 Ventures, Castle Island, Hash3 VC and others also followed suit, indicating that Nirvana Labs is also highly recognized in the capital market.
The golden partnership of "technology + business"
The company was co-founded by Dan Burke and Devin Bandara, one of whom understands market implementation and the other understands underlying architecture. They are a typical "technology + business" golden combination.
From BitGo to Nirvana, infrastructure veterans set out again
Dan is the CEO of Nirvana Labs. He previously served as the head of Asia Pacific at BitGo and Qredo and has been deeply involved in blockchain infrastructure for more than 7 years. He understands both technology and how to bring services to global customers. During his time at BitGo, he handled multiple large-scale node services and exchange-level deployment issues, and has a very deep understanding of how to optimize high-intensity blockchain loads.
In his opinion, traditional cloud computing is holding Web3 back—too expensive, too slow, and not flexible enough. Nirvana Labs' bare metal solution is designed to "help Web3 applications get rid of cloud dependency and use a truly adaptive cloud."
Product-driven geek CTO
Co-founder Devin Bandara is a technical person who focuses on the underlying architecture design and product roadmap planning of Nirvana Cloud and is good at using technology to solve practical problems. Devin pays great attention to the balance between performance and cost - neither can Web3 users go bankrupt, nor can performance be sacrificed to save money.
He once said bluntly: "Web3 applications have a unique way of running, but most cloud services are still using Web2 logic to serve Web3, which doesn't make sense." It was under his leadership that Nirvana Cloud gradually evolved into a cloud system that is truly optimized for on-chain loads.
Nirvana Labs also has a very hardcore team structure. Most of the company members come from first-tier Web3 companies such as BitGo and Qredo, and also include many engineers and architects with many years of experience in the field of cloud infrastructure. Such a team combination has both the agility of blockchain and the stability of cloud services.
There are also heavyweight advisors on the board, such as Joe Bruzzesi, general partner at RW3 Ventures and previously head of the Americas at BitGo, who provides steady guidance on Nirvana’s business strategy.
Capital continues to increase and confidence continues to rise
Whether you can get the money often reflects how the industry and the capital market view you.
In March 2024, Nirvana Labs completed a pre-seed round of financing of US$1.7 million, led by RW3 Ventures, with participation from well-known institutions such as Raptor Group, Blizzard Fund (Avalanche Ecosystem Fund), Hash3, Lattice Fund, and QCP Capital. Even industry OGs such as Nansen founder Alex Svanevik and Etherscan founder Matthew Tan have invested, which shows that it was highly regarded in its early stages.
In July 2024, the company completed a $4 million seed round of financing, led by Castle Island Ventures and RW3 Ventures, with participation from BitGo Ecosystem Fund, Hash3, Third Earth and Play Ventures.
In May 2025, Nirvana Labs received another $6 million in seed expansion round financing, led by Jump Crypto and Crucible Capital, with continued investment from old shareholders such as RW3 Ventures, Castle Island Ventures and Hash3 VC. So far, the company's cumulative financing has reached $11.8 million.
These funds were not used to "hoard money", but were quickly invested in global infrastructure expansion, access optimization for more blockchain networks, and stronger customer support services.
Web3 Native Cloud
Nirvana Labs does not follow the traditional approach. They do not provide a pseudo-Web3 cloud service that is a "Web2 in a shell". Nirvana has been optimized for blockchain load scenarios from the bottom up to achieve a "chain-friendly" effect.
On Nirvana Cloud, each server is dedicated to a single customer and will not compete with others for resources. This architecture is particularly suitable for computationally intensive tasks such as block verification, transaction matching, and HFT - because you don't need to worry about your neighbor suddenly running a large AI model and occupying the CPU.
Although Nirvana is essentially a centralized cloud platform, it does not rely on central clouds such as AWS and Google, nor does it host key components on them. This is very important for Web3: many projects talk about decentralization while building key services on the Amazon cloud. Once it goes down, the entire network will be paralyzed. At least in terms of "infrastructure sovereignty", Nirvana stands on the side of Web3.
Nirvana supports EVM, non-EVM, L1, L2. Whether you are working on the Ethereum ecosystem, Solana, Aptos, or Cosmos, this platform can deploy nodes and RPC services with one click. Compared with cloud solutions that can only serve a single chain, this cross-chain compatibility is obviously more suitable for developers' multi-chain world.
Nirvana's customers are not limited to developers, but also include staking platforms, DeFi, data service providers (such as RPC providers) and even high-frequency trading teams.
Even the best stories rely on technology to deliver. Nirvana Labs’ underlying platform, Nirvana Cloud, has delivered a solid answer.
Through customized bare metal servers and proprietary network channels, Nirvana provides the industry's top RPC and node services. Taking Ethereum as an example, their node service guarantees 99.99% uptime, and the latency is low enough to perform high-frequency trading.
According to the data they released, it is 19.5% cheaper than AWS and 26.91% cheaper than Google Cloud with the same configuration. And after overall deployment, cloud costs can be reduced by up to 85%. For early-stage projects with little financing, this money can determine whether you survive or die before the next bull market.
Currently, Nirvana Cloud has 35+ data centers around the world, supporting on-demand elastic expansion of CPU, memory, and storage resources. It is flexible enough to adapt to various needs from small projects to large public chains. Nirvana's entire technology stack has emphasized security from the beginning of its design and adopts enterprise-level protection standards. It is very suitable for handling high-value chain tasks, such as wallet custody, cross-chain bridge verification nodes, etc.
Through their dashboard, a new node can be set up in minutes, and all performance monitoring and resource analysis are clear at a glance, saving a lot of command lines and operation and maintenance costs.
It has been launched online, how is the product now?
Nirvana Cloud has been officially launched and put into use, processing billions of monthly calls from customers including Chainlink, Avalanche, Manta, Xai, etc. The product supports functions such as load-balanced RPC nodes, enterprise-level dedicated nodes, and virtual machine management, covering multiple key scenarios of blockchain infrastructure.
Just go to the official website (nirvanalabs.io) to register an account, and you can enter their visualization dashboard. The whole experience is still quite fool-proof:
One-click deployment/management nodes
Customize virtual machine performance
Real-time monitoring of resource usage
You can also restart/shut down the service with one click
Next, they also plan to open up more autonomous node deployment functions, such as Ethereum nodes can also be managed independently of Nirvana, further enhancing flexibility.
Manta co-founder Victor Ji said that at the critical moment of the mainnet launch, Nirvana provided a "high availability + redundancy" infrastructure to ensure the stable launch of nodes. Avalanche senior vice president Lydia Chiu also directly recognized Nirvana as an "efficient and scalable infrastructure service provider" and a cloud platform that understands blockchain.
Whether it is the dApp project, on-chain service provider or trading platform team, in summary, they decided that Nirvana's dashboard is relatively easy to use. Developers no longer need to deal with complicated command lines or build their own nodes.
Of course, Nirvana is not perfect. It is still a centralized cloud platform. For extreme projects that pursue "fully decentralized computing", it may not be able to meet all the needs (such as distributed computing networks like Fluence). At the same time, the competition in the infrastructure field is high. If it wants to outperform in the long run, it depends on its subsequent product polishing and market expansion capabilities.
Summarize
Nirvana Labs is exploring a Web3 infrastructure route that does not rely on traditional giants such as AWS, focusing on solving the shortcomings of current cloud services in terms of latency, cost, and chain-native support. Its bare metal cloud platform already supports multiple on-chain projects and has certain performance and cost advantages.
The team consists of members with backgrounds in blockchain and cloud computing, and has received multiple rounds of investment from well-known institutions, with a certain degree of industry recognition. Although the platform is still a centralized architecture, the expansion of decentralized capabilities and global deployment will be key challenges in the future.
As Web3 applications' demand for high-performance infrastructure grows, it will take time to verify whether Nirvana can continue to expand its market share.
