According to TechCrunch, Avara, the development company behind the lending platform Aave, the social protocol Lens, and the crypto wallet Family, announced the completion of a $31 million funding round led by Lightspeed Faction.
In addition to Lightspeed Faction, the participants in this round of investment also include Alchemy, Avail, Circle, Consensys, DFG, Fabric Ventures, Foresight Ventures, Stellarcore, Superscript, Re7, and Wintermute Ventures, as well as angel investors Anurag Arjun, Anton Bukov, Rune Christensen, Alex Gluchowski, Aleksander Leonard Larsen, Loi Luu, Spencer Noon, and Duncan Robinson.
Avara is building a decentralized social protocol called Lens, which serves as the infrastructure for social and consumer applications. Lens was originally built on the Polygon blockchain and is now using zkSync as its underlying technology, combined with validiums.
Consumer applications using Lens v2 include the NFT creation and sharing app Zora, Twitter-like platforms Hey and Kaira, as well as the sub-community focused app Orb.
This funding announcement comes a few weeks after Lens launched its comprehensive revamped protocol version Lens v3. It is reported that the protocol plans to launch the Lens v3 mainnet in the first quarter of 2025.
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