Caldera’s $15M Series A to Enhance Ethereum Rollup Solutions

Caldera, a Web3 infrastructure platform specializing in Ethereum rollups, has announced a $15 million Series A funding round. Caldera now has $25 million in total financing since its founding in 2022 with the support of Dragonfly, Sequoia financing, Arkstream Capital, Lattice, and Peter Thiel’s Founders Fund.

Ethereum is widely used in blockchain projects to implement decentralized apps, which results in expensive and time-consuming transactions. Rollups are used by Layer 2 blockchain networks, which operate on top of main blockchains like Ethereum, to solve this problem.

Rollups group transactions together before sending them to the Ethereum blockchain, which speeds up transactions and lowers costs. By allowing transactions to be “rolled up,” or submitted all at once, transaction times and the costs related to recording them to the main, or so-called Layer 1 blockchain, are decreased.

However, Caldera notes that existing Layer 2 rollup projects face high costs, slow deployment, and increased risks requiring expert handling. To address this, Caldera offers a “one-click” solution for developers to deploy L2 rollup networks with reliable infrastructure, handling maintenance and security.

Caldera plans to create the Metalayer network, a suite of Web3 tools for customizable, high-performance rollups. This project combines major Ethereum scaling frameworks likeArbitrum Nitro, Optimism’s OP Stack, ZKsync’s ZK Stack, and Polygon CDK, simplifying protocol selection for developers.

Chief Executive Matt Katz said that revolutionizing rollup deployment is key to achieving a scalable and decentralized blockchain ecosystem. He added that Caldera aims to fill gaps with the Metalayer and unify the Ethereum ecosystem through seamless interoperability between rollup frameworks.

Caldera supports over 50 rollups with 1.7 million unique wallets holding over $800 million in total locked value and has completed over 59 million transactions. The company has helped create notable blockchains like Manta Pacific, ApeChain, Treasure, Plume Network, Towns, Kinto, RARI Chain, and Zero Network by Zerion.

Caldera stated that by offering developers an intuitive scaling solution that relieves them of the technical burden, Multilayer aims to boost the uptake of Ethereum blockchain-based technology initiatives.

Joey Krug, a partner at Founders Fund, said Caldera targets two markets: major projects launching their rollups and new teams lacking the capital or infrastructure to do so. He noted that the crypto space has matured to support developers choosing their modular stack, similar to the evolution of web services.

Also Read: Polymer’s Ethereum Hub Secures $23 Million Series A Funding