TechFlow news, October 31 — According to The Block, Nitro Labs, the development team behind Solana scaling infrastructure platform Termina, has announced a $4 million seed round. The funding was led by Lemniscap, with participation from Animoca Ventures, Borderless Capital, Finality Capital, Race Capital, and No Limit Holdings, as well as angel investments from the Solana Foundation, Jump Crypto, and Spartan.
Nitro Labs founder Yiwen Gao stated that Termina is an open-source platform designed to help developers easily deploy custom Solana rollups or SVM "chain extensions." Over 20 projects are currently building on Termina, spanning both Solana-native and cross-chain applications. The platform plans to launch its testnet later this year, with mainnet expected in 2025. It's worth noting that Termina is currently in private alpha devnet phase, and there is no official timeline for token issuance.
