Lava Network secured $12 million to address blockchain data bottlenecks
Lava Network, a blockchain infrastructure protocol, announced the completion of a $12 million fundraising round. The funding, which included iAngles, Animoca Brands, Gate.io Ventures, CoinGecko Ventures, Polygon co-founder Sandeep Nailwal, and others, will help Lava expand its infrastructure, making it easier to access data across more than 40 blockchain networks. The company also revealed plans to launch its LAVA token on major cryptocurrency exchanges, including Bybit, on Thursday.
Blockchain networks process hundreds of billions of RPC (remote procedure call) and Application Programming Interface (API) requests every day, driven by applications, human users, and, increasingly, artificial intelligence agents. These requests enable transactions and data exchange across platforms such as Bitcoin, Ethereum, and Solana. However, the current system often relies on individual data providers, which creates significant bottlenecks – especially for AI agents that operate continuously. Lava Network aims to address these challenges by bringing together multiple service providers to ensure uninterrupted, decentralized access to blockchain data.
The Lava platform is designed to support developers and applications with secure, fast, permissionless access to blockchain networks. It currently manages over 100 billion transaction requests per day for over a million users and thousands of decentralized applications. The LAVA token, which is central to the protocol’s operations, coordinates traffic between data providers and incentivizes quality of service by rewarding high-performing nodes.
In the rapidly evolving blockchain ecosystem, AI agents have become a major driver of growth. By 2024, the market for AI tools integrated into blockchain has reached $17.7 billion, and experts predict that 80% of blockchain transactions will be driven by AI by the end of 2025. Lava’s infrastructure is designed to support this transformation, ensuring seamless integration of AI. Artificial. Directed and human activity on blockchain networks.
Lava has been in development for nearly three years. Magma Devs, one of its major shareholders, has raised $15 million from prominent investors, including Hashkey, Tribe, and Jump, as well as leading communities and founders from blockchain ecosystems such as Cosmos, Polkadot, Filecoin, and NEAR.
Magma Devs was founded by Yair Kleber and Jill Binder and employs about 20 people.
“Blockchains are digital cities with their own economy. Humans and AI agents will continue to move on the chain, creating a new era of digital commerce. Lava enables this economy to flow freely. With 600 million cryptocurrency holders and a total stablecoin market cap of $200 Billion Blockchain Traffic Booms Lava manages this traffic across more than 40 chains, for more than a million daily users and thousands of applications, said Yair Kleber, CEO of MagmaDevs.
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