Unto Labs Secures $14.4 Million to Compete with Solana
Unto Labs has raised $14.4 million in a combined pre-seed and seed funding round, led by Electric Capital and Framework Ventures. Cofounders Will Yoo and Liam Heeger aim to build the Thru infrastructure, which they describe as capital-efficient despite being capital-intensive.
Key points include:
- The founders address skepticism regarding their project being "another L1."
- They plan to replace the Solana virtual machine with Thru.
- Heeger previously worked at Jump Crypto, which filed a lawsuit against him after his departure; the case was dismissed.
- Their manifesto claims that blockchains have lost direction and emphasizes competition through uptime and throughput rather than stake accumulation.
- The goal is to compete not only with Web3 projects but also with Web2.
Yoo and Heeger express confidence in their long-term vision and commitment to developing a standout product.