Fuel Labs, a startup focused on blockchain scalability solutions, has raised $80 million from Blockchain Capital and Stratos Technologies.

Today, we are proud to announce the $80 million support you led. @BlockchainCap and @StratosXYZ!

Fuel is the fastest Modular Execution Layer for the Ethereum ecosystem, offering the highest flexible throughput with maximum security guarantees.https://t.co/HC25Q1DmxW

— Fuel Labs (@fuellabs_) 6 September 2022

Alameda Research, CoinFund, Bain Capital Crypto, TRGC, Maven 11 Capital, Blockwall, Spartan, Dialectic and ZMT also took part in the round.

The valuation of the venture was not disclosed.

The project positions itself as a “level of modularity” comparable to L2 solutions like Polygon.

“The industry needs changes […] will open up new areas of use for the next generation DeFi. Fuel aims to solve this problem by developing a performance for modular stack, namely L1 with high throughput potential with new execution styles,” the message says.

The startup identified three key aspects of its technology:

• the ability to do parallel processing;
• Fuel’s own virtual machine;
• A developer experience built around a purpose-built language called Sway.

“The basic premise is that we’re constantly seeing new networks pop up, but people aren’t trying to keep existing systems secure and decentralized,” Fuel Labs co-founder Nick Dodson told The Block.

Recall that a Huobi Research study showed that institutional investors from Asia are more interested in infrastructure projects than in new segments like DeFi and GameFi.

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