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Orb Labs Announced a $4.5M Seed Round, Led by Bain Capital Crypto

Orb Labs announced a $4.5M seed round Tuesday, led by Bain Capital Crypto, with participation from Shima Capital, 6th Man Ventures, Aves Lair, Newman Capital, Modular Capital, and SevenX Ventures.

Co-founders Richard Adjei and Felix Madutsa told Blockworks, exclusively, that their goal is “to make it possible for the everyday people to find Web3 to be a comfortable place to be.”

“We think fundamentally, messaging protocols are the last piece of Web3 scaleability,” Adjei said. “Their primary use case is to help amortize block space demand.”

That entails moving some computation to chains which are cheaper to use, like layer-2s, while keeping assets safely secured on a trusted chain such as Ethereum.

Orb Labs’ first product, MagicLane, is a token wrapping feature to send tokens from one chain to another very easily, and is built on top of Earlybird.

(By MACAULEY PETERSON)

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