Nitro Labs Secures $4M for SVM-as-a-Service Platform, Termina
Nitro Labs has successfully raised $4 million in a seed funding round to enhance its SVM-as-a-Service platform, Termina, aimed at supporting Solana-based networks.
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Nitro Labs, the company behind the SVM-as-a-Service platform known as Termina, has successfully raised $4 million in seed funding. The funding round was led by Lemniscap.
The term SVM refers to the Solana Virtual Machine, which serves as the operational environment for smart contracts on the Solana blockchain.
The Nitro Labs team noted:
"Recognizing the lack of SVM infrastructure offerings across the market, Nitro Labs got to work on building Termina, with a clear mandate to scale the SVM while empowering developers to create customizable Solana-based networks optimized for performance and privacy. Currently over 20 ecosystem partners are building alongside Termina, including both Solana-native and cross-chain projects, allowing developers to deploy and manage purpose-built SVM networks quickly and efficiently."
Nitro Labs CEO Yiwen Gao (left) and COO Kevin Lim (Nitro Labs)
