Unto Labs Secures $14.4M for RISC-V Blockchain

Unto Labs Secures $14.4M for RISC-V Blockchain

Unto Labs announced it has raised $14.4 million in a funding round led by Framework Ventures and Electric Capital to advance RISC-V-based blockchain technology, Thru, with the company valued at $140 million.

The $14.4 million investment highlights significant interest in leveraging RISC-V architecture for blockchain development, with Unto Labs aiming to challenge existing platforms like Ethereum and Solana.

Investment Backed by Major Crypto Firms

Unto Labs has secured $14.4 million to develop Thru, a new layer-1 blockchain and its virtual machine, ThruVM, with RISC-V architecture. The funding round was led by Framework Ventures and Electric Capital, placing the company’s valuation at $140 million.

Co-founders’ Vision Leveraging RISC-V

Co-founders Liam Heeger and Will Yoo bring critical expertise from Ethereum and Solana. Heeger emphasized the RISC-V architecture, stating, “RISC-V maps better to conventional hardware, offering performance and developer benefits.” This approach could broaden blockchain’s appeal beyond crypto-native environments.

Implications and Future Developments

The immediate impact presents opportunities for mainstream hardware integration, increasing blockchain’s appeal to non-crypto developers. The project expects to double its team to ten by 2025, prioritizing human resources and technical development.

Sustained Venture Capital Interest

This funding wave reflects ongoing venture capital interest despite volatile markets. Camp Network and Privacy blockchain Miden also reported significant funding, indicating sustained interest. Unto Labs’ focus on Thru and ThruVM demonstrates a key shift towards integrating established computing standards in the blockchain industry.

Potential Outcomes and Adoption

Potential outcomes involve more developer accessibility through traditional hardware compatibility offered by RISC-V. Historical precedents like Solana’s custom VM success highlight possible advantages for Unto Labs. Broader adoption could lead to substantial market shifts, particularly as Unto Labs targets the crypto dApp sphere. The introduction of Thru offers transactional and application-building capabilities, enhancing blockchain’s practical use beyond traditional boundaries. This strategic pivot notes a clear initiative to attract a wider developer base through RISC-V architecture.