Aave developer Avara raises $31 million in funding led by Lightspeed Faction

Deep Tide TechFlow news, on December 18, according to TechCrunch, Avara, the development company behind Aave, Lens, and Family, has completed a $31 million financing round led by Lightspeed Faction. Avara founder Stani Kulechov stated that the Lens v3 version will launch on the mainnet in the first quarter of 2025, utilizing zkSync and validiums technology to reduce transaction costs, focusing on providing infrastructure for decentralized social applications.

Currently, multiple applications including Zora, Hey, Kaira, and Orb have been built on Lens v2. The new version will introduce core features such as accounts, usernames, social graphs, information streams, and groups, supporting content access control with NFT and token thresholds. The round of financing also includes institutional investors such as Alchemy, Circle, Consensys, and well-known angel investors like Rune Christensen.