Nirvana Labs has made a significant leap forward in the Web3 landscape by acquiring the multichain query and execution platform, Vektor. This strategic acquisition is set to transform how developers interact with blockchain data and execute onchain workflows, enhancing Nirvana Labs’ cloud computing services tailored for the blockchain and crypto industry.
With this acquisition, Nirvana Labs aims to integrate Vektor’s advanced technology into its portfolio, offering developers a powerful suite of managed services that span multiple blockchains. According to a statement shared with The Block, Vektor’s platform supports over 50 protocols across more than 15 chains. This broad compatibility allows developers to seamlessly query, compose, and execute activities across diverse blockchains, streamlining operations such as swaps, bridging, lending, and borrowing on platforms like Curve, Balancer, and Uniswap v3.
Nirvana Labs’ CEO, Dan Burke, expressed enthusiasm about the acquisition, stating, “Vektor has completely redefined how developers interact with protocols for data and execution. By integrating Vektor’s technology, we are dedicated to expanding the number of Web3 managed services that Nirvana Cloud offers.” This integration aligns with Nirvana Labs‘ mission to provide robust infrastructure and innovative tools, essential as the demand for specialized Web3 hosting solutions continues to grow.
The acquisition comes at a time when Nirvana Labs is gaining significant traction in the industry. In July, the firm announced a successful $4 million seed funding round led by Castle Island Ventures and RW3 Ventures, bringing their total funding to $5.7 million in just six months. This influx of capital will be instrumental in enhancing Nirvana Labs’ Web3 cloud services and expanding their market presence.
Andy Bryant, Vektor’s co-founder and CEO, highlighted the strategic fit of the acquisition: “We are excited to be joining Nirvana Labs and leveraging their unparalleled Web3 cloud infrastructure to empower developers with the most advanced tools for complex onchain development.” Vektor’s CTO, Akram Hussein, echoed this sentiment, noting that their platform was built to simplify and supercharge the onchain development experience. “We are thrilled to offer this to developers on the most robust Web3 hosting platform we have found in the market,” Hussein added.
Nirvana Labs has already established itself as a key player in the Web3 space, with notable clients including Chainlink, BitGo, Goldsky, Thirdweb, and Pairpoint. The acquisition of Vektor is poised to enhance their offerings further, positioning Nirvana Labs as a leading provider of cloud solutions for blockchain development.
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As Web3 continues to evolve, Nirvana Labs’ investment in Vektor represents a significant step toward addressing the complex needs of blockchain developers. By expanding its suite of managed services, Nirvana Labs is not only advancing its technological capabilities but also reinforcing its commitment to delivering cutting-edge solutions in the burgeoning Web3 ecosystem.
