October 30, 2024
KRNL Labs, a software innovator in decentralized computing, has announced a successful $1.7 million pre-seed funding round. This investment, led by Blockchain Founders Fund with participation from TRGC, Superscrypt, Ryze Labs, and other prominent investors, aims to support KRNL Labs in building what it envisions as the largest open, multichain software registry in Web3. The company’s mission is to develop a decentralized library platform akin to npm (Node Package Manager) but designed specifically for blockchain environments.
The KRNL platform is designed to improve cross-chain communication by creating modular “kernels”—independent, reusable code segments that streamline decentralized application (dApp) execution. KRNL Labs’ innovative approach enhances the execution of blockchain tasks, allowing multiple chains to interact in real-time and share code libraries. This method aims to solve core Web3 issues like scalability, interoperability, and efficiency. With an advanced Go Ethereum (Geth) client enhanced by GraphQL, KRNL Labs offers developers new flexibility in distributing execution tasks across networks.
KRNL Labs’ recent release of a private test net at the Encode London Hackathon offered early access to participants, showcasing the potential of its execution environment. This expansion continues with plans for further network integrations by 2025, supporting both Ethereum Virtual Machine (EVM) and non-EVM networks. KRNL Labs is aiming to be the first to deliver a multichain software registry that supports complex, composable Web3 applications, transforming how blockchain-based applications operate across different networks.
About KRNL Labs
Founded in 2022 by Tahir Mahmood and Asim Ahmad, KRNL Labs aims to tackle inefficiencies within Web3 infrastructure. Mahmood, a former Technical Lead at Microsoft with over 40 patents, brings extensive experience in operating systems and programming languages. Asim Ahmad, a blockchain expert since 2016, co-founded Eterna Capital and has a background with BlackRock. Together, they created KRNL Labs to develop solutions for decentralized computing’s evolving needs.
Website: https://www.krnl.xyz/
X: @KRNLLabs
About Investor
The Reserve General Capital
Founded in 2018, The Reserve General Capital (TRGC) is a venture capital firm specializing in blockchain technology investments, focusing on projects that drive innovation in decentralized systems and Web3. TRGC partners with promising early-stage companies in the blockchain ecosystem, providing strategic support and resources to accelerate growth and adoption.
Location: New York, NY
Website: https://www.trgc.io/
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