According to a report by TechCrunch, Avara, the development company behind the lending platform Aave, the social protocol Lens, and the crypto wallet Family, has announced the completion of a $31 million funding round led by Lightspeed Faction.
In addition to Lightspeed Faction, participants in this funding round include Alchemy, Avail, Circle, Consensys, DFG, Fabric Ventures, Foresight Ventures, Stellarcore, Superscript, Re7, and Wintermute Ventures, as well as angel investors Anurag Arjun, Anton Bukov, Rune Christensen, Alex Gluchowski, Aleksander Leonard Larsen, Loi Luu, Spencer Noon, and Duncan Robinson.
Avara is building the decentralized social protocol Lens, which serves as the infrastructure for social and consumer applications. Lens was originally built on the Polygon blockchain and is now utilizing zkSync as its foundational technology, combined with validiums.
Consumer applications using Lens v2 include the NFT creation and sharing application Zora, Twitter-like platforms Hey and Kaira, and the community-focused application Orb.
This funding announcement comes weeks after Lens launched its completely revamped protocol version, Lens v3. Reports indicate that the protocol plans to launch the Lens v3 mainnet in the first quarter of 2025.
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