Ethereum infrastructure developer Spire Labs has completed a $7 million seed round financing, led by Maven 11 Capital and Anagram

ChainCatcher news, Ethereum scaling infrastructure developer Spire Labs has completed a $7 million seed round financing, led by Maven 11 Capital and Anagram, with participation from a16z Crypto Startup Accelerator, Digital Currency Group, Bankless Ventures, Volt Capital, Finality Capital, and angel investors Nick White and Jacob Arluck from Celestia Labs, as well as Amrit Kumar and Anthony Sassano from AltLayer.

Spire Labs co-founder Kaito Yanai stated that the company began its seed round financing in June and completed the funding earlier this month. Yanai mentioned that this financing was conducted in the form of a Simple Agreement for Future Equity (SAFE). Spire Labs is currently developing the first testnet of Based Stack, which is planned to be launched by the end of this year, and added that the mainnet is scheduled to launch in the first quarter of 2025.

Spire is a crypto startup focused on Ethereum scaling, developing "Based Stack," a framework designed to enable builders to deploy application-specific chains or application chains.