Lineara, a layer-1 blockchain attempting to tackle scalability issues using ‘microchains,’ has closed a new $6 million funding round led by venture capital fund Borderless Capital. The firm, founded by former Meta Novi engineer Mathieu Baudet, has now raised a total of $12 million in funding. The layer-1 is pioneering the idea of microchains within the blockchain, which allows each user to have its lightweight chains, integrating into browser extensions and mobile devices for Web3 app interactions within the users’ wallets. The competition for blockspace in traditional layer-1 blockchains, coupled with limited production rates and block sizes, creates a bottleneck during traffic peaks, leaving users outpriced or delayed, rendering the infrastructure effectively unavailable, said the press release.
The new funding will be used for expanding the team, launching a devnet and a testnet for the protocol and fostering a strategic presence in the APAC region while continuing to grow their developer academy, according to the company. Investors in the new round include Laser Digital Ventures (Nomura), Flow Traders, Eterna Capital, and A16z Crypto, who led the company’s initial seed round last year alongside Tribe Capital.