KRNL Labs Raises $1.7M Pre-Seed to Build the Largest Open Software Library in Web3
Funding Announcement
On October 29, 2024, KRNL Labs announced a significant funding milestone, raising $1.7 million in pre-seed funding to establish the largest open, multichain software registry in Web3. Key investors include TRGC, Superscrypt, and Blockchain Founders Fund.
Innovative Solutions
KRNL Labs aims to innovate at the RPC node level to enable cross-chain communication, allowing developers to effectively manage libraries, referred to as kernels. This approach is akin to the widely-used Node Package Manager (npm), easing the installation and management of dependencies.
- Cross-Chain Functionality: Facilitates execution tasks across blockchain networks.
- Asynchronous Composability: Ensures efficient execution and resource management.
- Enhanced Security: Employs a custom GraphQL runtime to optimize performance.
Future Developments
KRNL Labs plans to support major Ethereum Virtual Machine (EVM) networks and expand to non-EVM networks through 2025. Their private testnet was recently unveiled at the Encode London Hackathon, with early access provided to selected participants.
About KRNL Labs
Founded in 2022 by seasoned professionals Tahir Mahmood and Asim Ahmad, KRNL Labs seeks to address fragmentation in Web3 by providing innovative solutions. Mahmood, with a history at Microsoft, holds over 40 patents, bringing extensive expertise in technology.
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