NEWS // Oct 19, 2024 // 3 MIN READ

Layer Raises $6M

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Layer, a newly founded startup focused on decentralizing the internet, has successfully raised $6 million in seed funding. The announcement was made via Twitter on October 7, 2024, showcasing their mission to extend Ethereum’s trust model to everyday software applications. Led by 1kx, with participation from Fabric Ventures, Arrington Capital, Stake Capital Group, Third Earth Capital, Founder Heads and IOBC, Layer is poised to revolutionize software development with tools that extend the trust guarantees of Ethereum to everyday applications.

Founded by blockchain veterans Sam Cassatt, Jake Hartnell, and Ethan Frey, Layer’s core offering, the Layer SDK, is designed to allow developers to create fast, secure, and verifiable decentralized applications (dApps) in any programming language. This tool will provide affordable decentralization while maintaining the high performance required for modern applications, even those incorporating complex off-chain services like AI agents and decentralized messaging.

Decentralizing the Foundations of the Internet

The internet as we know it functions largely due to security protocols that ensure data integrity during transfer. However, these protocols are increasingly under strain from more sophisticated threats, including cyberattacks, corporate manipulation, and AI-driven interference. Blockchain technologies, like Ethereum’s smart contracts, offer a foundation for trust, but their computational limitations make them ill-suited for building comprehensive digital platforms.

Layer aims to fill this gap by leveraging Web Assembly, allowing developers to build full-stack decentralized applications that operate both on-chain and off-chain. These applications will be impervious to manipulation by any external actor, from corporations to hackers to AI, offering a new level of trust for users.

Expanding Ethereum's Capabilities

At the heart of Layer’s innovation is the Layer SDK, which enables developers to extend Ethereum’s security to broader applications. By supporting languages like Rust and Web Assembly, Layer allows developers to create decentralized, unstoppable applications with the same ease and speed as traditional software development.

Layer’s vision is to enable developers to build apps that can scale like centralized solutions but with the integrity and trust of decentralized protocols. This will allow developers to create incorruptible versions of their software without compromising user experience or performance.

“We realized that while smart contracts have provided a foundational layer of trust, they aren't enough to fully decentralize the web,” said Sam Cassatt, Co-Founder of Layer. “With the Layer SDK, we aim to complete the full arc of decentralized architecture by giving developers the tools they need to build any application with trust guarantees.”

A Seasoned Leadership Team and Notable Investors

Layer was co-founded by three blockchain pioneers: Jake Hartnell (CEO), who previously co-founded Juno and DAO DAO; Sam Cassatt (CBO), former Chief Strategy Officer at ConsenSys; and Ethan Frey (CTO), founder of CosmWasm and architect of key protocols like IBC for the Cosmos ecosystem.

The $6M seed round, led by 1kx, has garnered additional support from industry giants like Fabric Ventures, Arrington Capital, Stake Capital Group, Third Earth Capital, Founder Heads and IOBC. Notable angel investors, such as Sreeram Kannan (EigenLayer), Mike Silzgade (Ether.fi), Rok Kopp (Ether.fi), and Paul Taylor (formerly of BlackRock), are backing Layer’s bold vision.

Building a Decentralized Future

Layer’s goal is to enable the creation of sovereign, incorruptible software that can operate independently of centralized control. As Wei Dai, Research Partner at 1kx, explained, “Traditional smart contract platforms rely on replicated execution, which limits scalability. Layer’s platform and SDK provide best-in-class scalability, programmability, and configurability for shared-security applications.”

By building on Ethereum’s foundation and integrating off-chain computational services, Layer is poised to make the Decentralized Web the dominant web of the future. Tools like Layer SDK will be key to mitigating the existential threats posed by centralized systems and ensuring that trust becomes an inherent part of all internet experiences.

The team's expertise, combined with strong investor backing, positions Layer as a leader in blockchain infrastructure innovation, offering developers the tools to build decentralized applications that are fast, secure, and scalable. The future of the internet, according to Layer, will be one where trust and performance coexist seamlessly.

For further updates, you can follow Layer on Twitter or join us to chat on Telegram.
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Investors:

1kx: https://x.com/1kxnetwork
Fabric Ventures: https://x.com/fabric_vc
Arrington Capital: https://x.com/arringtonxrpcap
IOBC: https://x.com/iobc_capital
Third Earth Capital: https://x.com/thirdearthcap
Founder Heads: https://x.com/founderheads
Stake Capital: https://x.com/stakecapital

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About author

Bertrand Blancheton

CMO

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Bertrand Blancheton is the CMO of Layer.xyz, specializing in building value-based communities in Web3. With over 15 years of marketing experience, he focuses on growth strategies that foster engagement and decentralized innovation across blockchain ecosystems.

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