Nuffle Labs was founded with $13 million in investment from the non-profit NEAR Foundation, which is responsible for managing the blockchain ecosystem of the same name. According to an email statement on Thursday, the spinout aims to advance NEAR’s flexibility and offer more decentralised development to the ecosystem. “As an independent entity, Nuffle Labs will now be able to make agile decisions, ensuring that NEAR Modular products remain competitive,” the release stated. “Strategically positioned between the NEAR Foundation, Ethereum, and EigenLayer ecosystems, Nuffle Labs will leverage strengths from multiple platforms to enhance efficiency and resilience in the NEAR ecosystem.”
The foundation contributed a grant to the fundraising efforts, and Electric Capital made an outside investment. Caladan, Fabric Ventures, Robot Ventures, Canonical Crypto, and Lyrik Ventures were all present. Nuffle Labs plans to leverage NEAR’s Data Availability (NESR DA) and Fast Finally Layer (NFFL) solutions to provide rollups.