Solana Labs- a San Francisco-headquartered startup building Solana, a public-permissionless blockchain it describes as “the most performant…in the world” - announced it raised $20 million in a Series A financing round. The funding will go towards “continued engineering excellence and project management,” Solana Labs noted in a blog post. October is the month Solana Labs is slated to release Solana on mainnet.
In an investment thesis published Tuesday by Kyle Samani of Multicoin Capital - which led Solana Labs' Series A raise - he explained that the common theme among the various Solana-specific innovations “can be summed [sic] in a word: optimization.”
“Solana is the clearest example I’ve seen of first principles-based engineering at every layer of the stack,” the Multicoin Capital co-founder and managing partner went on to write. “The team systematically identified every point at which other chains slow down (e.g. consensus overhead, single-threaded computation, and disk I/O) and designed unique solutions to address every problem.”
