Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Saturday, May 31
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » Irys Brings Funding to $8.9M, Announces Plan to Scale Onchain Storage and Combat Misinformation
Investment & Funding

Irys Brings Funding to $8.9M, Announces Plan to Scale Onchain Storage and Combat Misinformation

"Irys is enabling precise attribution of data origin through proof of provenance," states Lemniscap Founder and Managing Partner, Roderik van der Graaf.
Ravi KumarBy Ravi KumarJune 12, 2024Updated:June 12, 2024No Comments3 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
Irys Brings Funding to $8.9M, Announces Plan to Scale Onchain Storage and Combat Misinformation
Irys Brings Funding to $8.9M, Announces Plan to Scale Onchain Storage and Combat Misinformation
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

Key Takeaways

  • Irys has secured a strategic funding round led by Lemniscap, bringing total funding to $8.9 million.
  • Irys aims to combat the crisis of trust and misinformation in AI-dominated era.
  • By scaling onchain storage to manage increased data throughput and ensure permanent storage, Irys empowers users to confidently trace and verify data origins.

Irys, formerly known as Bundlr Network, has closed a strategic funding round led by Lemniscap, a prominent venture capital firm specializing in blockchain investments. This latest funding round brings Irys’ total funding to $8.9 million.

Irys has garnered attention for its capability to onchain data storage, boasting over 1.9 billion processed transactions to date. This showcases not only its capability to surpass some of the largest chains in the industry but also the demand for such projects within the industry.

The company’s rebranding from Bundlr Network reflects its evolution and expanded mission, emphasizing its commitment to delivering provenance, performance, and scalability in onchain data management.

The strategic funding round not only underscores investor confidence in Irys’ vision but also highlights the platform’s crucial role in combating the crisis of trust and misinformation prevalent in today’s digital landscape.

In an era dominated by AI and rampant digital content, the ability to accurately attribute the origin of data has become increasingly vital. Irys addresses this challenge by enabling users to trace and verify data origins securely, offering a solution that could restore trust in digital information.

“This investment is a testament to the confidence our investors have in our vision and our ability to bring the world’s data onchain,” Irys CEO Josh Benaron said in a statement.

  • Roderik van der Graaf, Founder and Managing Partner at Lemniscap, commented, “We are excited to support Irys in bringing the world’s data onchain, while combatting the proliferation of misinformation in today’s society.
  • “Irys is enabling precise attribution of data origin through proof of provenance, and we look forward to working closely with the Irys team on this very important and timely mission,” Roderik added.

The funding round also saw participation from other notable funds including Framework, Primitive Ventures, Hypersphere, Permanent Ventures, and EV3, as well as prominent angel investors such as including Smokey the Bera, Ryan Watkins, and Daniel Cheung. This diverse range of investors underscores the broad recognition of Irys’ potential to reshape onchain storage and its dedication to pushing the boundaries of innovation in the blockchain industry.

The timing of the strategic funding round is particularly significant for Irys as the company continues to expand its operations and focus on enhancing performance, scalability, and user experience.

Read Also: Zyfi Raises $2M from Everstake, Tenzor, and Other Top VCs to Advance DeFi Transactions on zkSync

Decentralized Storage Irys Lemniscap
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
Ravi Kumar
  • X (Twitter)
  • LinkedIn

Ravi is Founder and Chief Content Officer of AlexaBlockchain. He writes about everything at the cross-section of blockchain, crypto, AI, markets, and the economy. Ravi can be reached at ravi@alexablockchain.com

More AlexaBlockchain

VOYA Games Raises $5M Co-led by 1kx, Makers Fund

May 21, 2025

Animoca Brands Invests in Astar to Boost Sony’s Web3 Entertainment Push

May 21, 2025

Antix Raises $8.2M to Launch Tokenized Digital Humans

May 14, 2025

SOL Strategies Inks $500M Deal with ATW Partners

April 23, 2025

RedotPay Raises $40M in Series A Funding Led by Lightspeed

March 17, 2025

YZi Labs Invests in Tensorplex Labs to Supercharge the Development of Decentralized AI

March 6, 2025
Add A Comment

Comments are closed.

Don't Miss

QFSCOIN Launches Affordable Cloud Mining Contracts to Democratize Bitcoin Access

Liquidium Launches Cross-Chain Bitcoin Lending Without Wrapped Tokens or Bridges

Katana Launches High-Yield DeFi Blockchain Backed by GSR and Polygon Labs

Sony’s Soneium Brings Viral Telegram Game Sleepagotchi to 200M Users via LINE

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.