Irreducible is pleased to announce their $24 million Series A funding round, co-led by Paradigm and Bain Capital Crypto, with support from Fenbushi Capital, L2 Iterative Ventures, Robot Ventures, and angel investors like Anna Rose, Brendan Farmer, Daniel Lubarov, Sina Habibian, and Varun Srinivasan.
This latest investment round supports Irreducible’s mission to build the foundational infrastructure of the “verifiable” Internet.
Irreducible and their investors says that they foresee a future Internet where all transactions, identities, and content are “cryptographically verified.”
As explained in the announcement, their focus is on creating the fastest, most efficient solutions for “cryptographic proving.” With the rise of Web3 technologies, it is becoming necessary for consumers and businesses to adopt the latest innovations. And with the rise of closely-related ecosystems such as AI, it is now vital to be aware of the ongoing transformation of products and services in order to remain relevant and competitive.
Binius, their flagship proof system based on their research into Towers of Binary Fields, delivers “performance as a result of software and hardware co-design.”
This funding will support Binius’s continued growth “towards becoming the top choice for protocol developers and a new industry standard.”
They also now claim to run their own data centers “equipped with custom FPGA-based servers.”
This unique infrastructure aims to ensure greater efficiency as well as reliability, enabling Binius to achieve “scale and performance.”
And they are eager to bring this technology to Risc Zero, Polygon, and more partners in the future to power some of the “soon-to-be most used zkVMs in the industry.”
To build the best products, they first must build the best team.
They’re honored to have experienced product builders, who are inspired by their vision of a “better Internet” — and from engineers to researchers, their team is growing.
It’s worth noting that there’s no widespread consensus in the Web3 and crypto ecosystem regarding what the best Internet will or should look like. It will likely evolve into a space that consists of the most useful products, protocols, and services that consumers actually use and have practical real-world utility (instead of just hype).