According to TechFlow, The Block reported that blockchain cloud computing company Nirvana Labs has 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. This round of financing brings the company's total financing in the past six months to $5.7 million.

It is reported that Nirvana Labs is developing Nirvana Cloud, a cloud infrastructure designed for Web3. This product has been used by well-known encryption companies such as Chainlink, BitGo, Goldsky, Thirdweb and Pairpoint.