The NEAR Foundation has announced that Nuffle Labs, a spin-off from NEAR Modular, has raised $13 million in funding. This new venture will focus on enhancing NEAR’s modular network.
Nuffle Labs originated from the core team behind the NEAR Data Availability Layer (NEAR DA) and the NEAR Fast Finality Layer (NFFL). The funding, including a strategic grant from the NEAR Foundation and investments led by Electric Capital, will help Nuffle Labs advance these modular solutions.
Notable investors include Sam Kazemain of Frax Protocol and Sandeep Nailwal of Polygon. This financial boost will allow Nuffle Labs to expand its team and invest in research and development.
CEO Altan Tutar highlighted the opportunity to grow NEAR’s modular products. This strategic move is crucial for creating a future where intra- and interchain transactions are fast, cheap, and secure.
