According to TechFlow, The Block reported that Layer 2 protocol RISE Chain completed a $3.2 million seed round of financing, led by Finality Capital, with participation from Orange DAO, DACM, ether.fi Ventures, P2 Ventures, MH Ventures, Public Works, Vitalik Buterin, Stani Kulechov, Anthony Sassano (also known as sassal.eth), DCF God and others.
RISE was founded by veteran Web3 builders Sam Battenally, Hai Nguyen, and Sasha Mai, and incubated by Caliber Venture Builder, a startup studio founded by Loi Luu. It was inspired by the desire to provide a better solution to the scalability problem.