We’re excited to announce that we’ve raised $4 million in a seed funding round led by Lemniscap, with participation from Borderless Capital, Race Capital, No Limit Holdings, Animoca Ventures, Finality Capital, and notable angel investors from Tensor, Solana Foundation, Jump Crypto, and others.
At Nitro Labs, we believe the future of decentralized applications requires not just speed but also flexibility and customization. As a result, we're building Termina, the first SVM network deployment platform, to address the challenges developers face when creating applications needing dedicated resources.
This funding will accelerate our development and expand our contributions to the Solana ecosystem. It’s frustrating when projects are forced to migrate to centralized servers due to concerns with cost or latency, so we’ve developed Termina to meet those requirements but still keep execution closely tied to the L1, specifically targeting use cases like dePIN, high-frequency trading, and payment networks.
While Solana has set new standards for blockchain speed and efficiency, some applications need more tailored solutions to reach their full potential. Since the beginning, our core belief has been that network extensions can offer much more than transaction throughput–they are tools for experimentation, innovation, and diverse needs beyond simple scaling. Solana’s emerging Layer 2 ecosystem is already diverging from Ethereum’s, and it’ll continue to progress along a unique path and capture new possibilities.
Termina allows builders to deploy, manage, and optimize decentralized applications efficiently. The platform optimizes the execution layer for specific use cases by decreasing latency, improving privacy, and reducing compute costs. This helps builders achieve higher performance with less competition for blockspace, lower fees, and better overall user experience. By supporting projects that benefit from dedicated SVM execution, we aim to help scale the Solana ecosystem and make its technology accessible to everyone. The era of consumer crypto is thriving on Solana, and we're excited to be part of this transformative period.
The team has made significant progress during development, and we’re excited to announce alongside the fundraise that the private alpha phase of devnet is now live!
If you’re interested in launching an instance, please fill out our interest form at https://tally.so/r/mV8pav, or visit our website at termina.technology, and we’ll be in touch as soon as possible. This phase will precede the upcoming release of public testnet, where developers will be able to launch instances permissionlessly.
Nitro Labs is a venture-backed company focused on developing scaling solutions for the Solana tech stack. Our team is composed of industry veterans across web2 and crypto, including Microsoft, Lyft, SpaceX, and Optiver as well as Sei Labs, Solana Labs, NEAR, and Taiko.
