Eclipsing their first round of $1 million, Bware Labs, a platform that helps create decentralized API infrastructure, has seen a follow-up round reach a total of $6 million in investments. Bringing their total amount raised up to $7 million, this funding gives Bware Labs the ability to boost their production speed, moving swiftly into their next stage of development.
The first funding round included large names like Ascensive Assets, GBC, Morningstar Ventures, and Spartan Group, each of which contributed to the initial $1 million.
Yet, Bware Labs has reached a much larger pool of investors in their follow-up funding round. Investors include large-scale venture capital firms and well-known gaming corporations, like Infinity ventures Crypto, Blizzard, Hypersphere Ventures, Woodstock, Axia8, Figment, Subsquid, Stakeborg, Nabais Capital, Nexo, Coingecko Ventures, Kosmos Ventures, Impossible Finance, and AVentures DAO.
The CEO of Bware Labs, Flavian Manera, has demonstrated the company’s excitement at the prospect of what can be done with this funding. They see this investment as a suggestion of the belief that the investors have in this project, symbolizing “The strength we brought into our team, by onboarding experienced investors, from both crypto and traditional finance, big tech projects, and fellow infrastructure players.”
Additionally, Manera suggests that this money will allow them to trigger the next stage of their development, citing a reason for Bware Labs’ excitement as, “The other reason is related to our company’s growth and the expansion of our tech offering which can now happen at an accelerated pace due to the financing we were able to secure and the support of our investors.” Considering that the investment of this round was 6x that of the last round, Manera is happy about the attention the project is gaining, with this money allowing them to “Scale our plans for years to come.”
What Are Bware Labs Developing?
As blockchain and the development of various chains continues to grow, one of the central problems that developers were running into was the inability to find a reliable infrastructure of decentralized nodes. Instead of this, many had to turn to centralized systems, finding centralized node operators in order to then interact and support their blockchain project.
Bware Labs sets out to fix this problem, providing a subscription-based API platform that businesses and developers alike can use to deliver requests on their networks. Instead of turning to centralized solutions, Bware Labs allows a developer to use exclusively decentralized nodes, essentially renting them through the infrastructure that Bware Labs provides.
By collecting third-party node providers from around the globe, screening them to ensure high performance and reliability, Bware Labs allows for a global infrastructure of decentralized nodes to be created. Instead of searching for reliable blockchain access, developers will only need to turn to the network that Bware Labs provides them.
The process of becoming a node for this system is also incentivized by the platform, with Bware Labs offering a share of revenues and the ability to stake BWR tokens while acting as a geographical node. With this infrastructure in place, viable data streams are now available through traditional HTTP REST protocols, RPC, and WebSocket, giving developers the flexibility of being supported on-chain.
Those that provide nodes will be able to accept delegations from other BWR token owners, creating a staking pool where everyone can then boost their earnings on the platform. Anyone looking to earn BWR then has several different reasons that draw them into becoming a node access point, further boosting the reliability of the system.
What’s more, to further boost the longevity of what they’re proposing, Bware Labs is allowing businesses and developers to pay their subscription fees in stablecoin, creating a seamless pathway for crypto-natives.
The API of Bware Labs can interlink in a range of different blockchain endpoints, currently supporting Polygon, Elrond, Polkadot, Binance Smart Chain, Moonbeam, Moonriver, Astar, Shiden, Fantom, and Avalanche. As this integration service is free, Bware Labs imposes a rate limit, with users only being able to create one endpoint per blockchain.
With this new funding, Bware Labs is pushing on with their plans of releasing a fully-fledged API platform, which will contain the different subscription plan models and a Payment Module. After its launch, the platform will continue to build and develop, shifting its focus onto complete decentralization. This will swiftly be followed by the proprietary integrity protocol and the release of the node on-boarding process for users around the globe.
Investors in Bware Labs are impressed by the scope of their plan, commending their node access as a way to synergize decentralization and empower developers that are constructing on blockchain. Vice President of Business Development at Ava Labs, Lydia Chiu, commented on behalf of Blizzard that “Bware Labs is playing a key role in expanding and hardening the infrastructure available to builders across the Avalanche community”.
This sentiment is mirrored by Brian Weaver, Engineering Manager at Hypersphere, who suggests that this funding will help Bware Labs create the infrastructure that will help “builders to focus on developing multi-chain applications while eliminating much of the costly infrastructure overhead.”
With an impressive business structure, incentivized node onboarding plan, and the funding to get where they want to go, Bware Labs is definitely a business to watch over the coming months.