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Fortune

Ben Weiss

Professor behind EigenLabs gets $50 million funding, promises to upgrade Ethereum network

Ethereum blockchain Blockchain Capital Fortune

Portrait of Eigen Labs Fonder and CEO Sreeram Kannan. (Credit: Courtesy of EigenLabs)

EigenLabs, which aims to make Ethereum as fast and flexible as centralized networks of servers like Amazon Web Services, announced on Tuesday a $50 million funding round led by Blockchain Capital.

Sreeram Kannan, the founder and CEO of EigenLabs as well as an associate professor at the University of Washington, Seattle, declined to provide his company’s implied valuation. Other investors in the round include Coinbase Ventures, Polychain Capital, Electric Capital, Hack VC, and Finality Capital Partners.

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