Nuffle Labs Emerges from NEAR Foundation with $13M to Enhance Protocol's Modular Capabilities

Nuffle Labs, a spin-off from the NEAR Foundation, has successfully raised $13 million in its latest funding round. This marks a significant step for the platform

Nuffle Labs, a spin-off from the NEAR Foundation, has closed a $13 million funding round to enhance the NEAR protocol’s modular capabilities. The platform was formerly known as NEAR Modular.

Modular Network Solutions Spin-Off

Nuffle Labs, which began as an initiative within the NEAR Foundation and Pagoda, is now concentrating on offering modular rollup solutions. The original developers of the NEAR Data Availability Layer (NEAR DA) and the NEAR Fast Finality Layer are behind the entity (NFFL).

Modular Network Solutions Spin-Off

Nuelle Labs, a NEAR Foundation spin-off, has closed a $13 million funding round to improve the NEAR protocol’s modular capabilities, which were formerly a part of NEAR Modular.

The $13 million in capital includes a strategic grant from the NEAR Foundation and investments from prominent venture capital firms. The round was led by Electric Capital, with participation from Canonical Crypto, Robot Ventures, Fabric Ventures, Caladan, and Lyrik Ventures. Sam Kazemain of Frax Protocol, Sandeep Nailwal of Polygon, and Sreeram Kannan of Eigenlayer were among the notable angel investors.

“We are thrilled to support Nuffle Labs, the creators of NEAR DA and NFFL, with their deep domain expertise in modularity,” said Avichal Garg, General Partner at Electric Capital. Nuffle Labs is well-positioned to advance modular solutions, enabling efficient, fast, and secure intra- and interchain transactions.”

Modular Network Solutions Spin-Off

Nuelle Labs, a NEAR Foundation spin-off, has closed a $13 million funding round to improve the NEAR protocol’s modular capabilities, which were formerly a part of NEAR Modular.

The funds will be used by Nuffle Labs to further develop NEAR’s modular products, which are led by CEO Altan Tutar and co-founded by Sam Wang, Firat Sertgoz, and Donovan Dall. The company intends to expand its team and make significant research and development investments to advance both NEAR DA and NFFL.

Tutar discussed the spin-out’s growth potential, emphasizing that this new chapter will enable Nuffle Labs to scale NEAR’s modular offerings.