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Web3 Platform Caldera Raises $9M Funding To Scale Its Ecosystem

The startup aims to be “an all-in-one solution that will provide infrastructure” for web3 developers

No-code Web3 infrastructure platform Caldera, has raised $9 million in funding across two rounds to grow its team, build new partnerships and integration to support developers and bring its vision to reality.

The two rounds were led by Sequoia Capital partner Shaun Maguire and Dragonfly Capital investment partner Ani Pai, with participation from Neo, 1kx and Ethereal Ventures.

Co-founder, Matt Katz commented, “We started the company when we realised developers wanted to build interesting things on the blockchain. We realised people actually want to build more complex things across a bunch of verticals and in order to unlock the full potential of web3, it’s untenable for it to happen on a single blockchain.”

Scaling the Web3 ecosystem

Caldera is aiming to help Web3 projects launch customizable layer-2 blockchains on the Ethereum blockchain to scale the ecosystem in a simple way.

Speaking to Techcrunch, Katz added that the capital will be used to “rapidly accelerate” the startup’s development timeline, bringing in a new team to strengthen its core product and improve its user interface to allow anyone to use it from “small hackathon teams to large crypto projects.”

“For us, we don’t require any coding knowledge,” Katz said. “If you just wanted a blockchain to say you had a blockchain, you could totally do that with our platform. The people we are targeting though are web3 developers who know how to write Ethereum smart contracts but don’t know how the underlying blockchain works.”

Public Access in the works

The platform is currently live on the mainnet with select partners in decentralised finance (DeFi) and gaming space for Ethereum and Polygon blockchains. However, co-founder Katz said that work is underway to develop a public beta mode “in the span of a month,” and will become available for all come summer.

Founded in March 2022 by Katz and CTO Parker Jou, Caldera is aiming to be “an all-in-one solution that will provide infrastructure so developers can hit the ground running and focus on building their app.”

Written By

Isa Muhammad is a writer and video game journalist covering many aspects of entertainment media including the film industry. He's steadily writing his way to the sharp end of journalism and enjoys staying informed. If he's not reading, playing video games or catching up on his favourite TV series, then he's probably writing about them.

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