Nirvana Labs Acquires Vektor

Nirvana Labs has acquired the multichain query and execution platform Vektor to enhance its cloud computing services for the blockchain and crypto industry.

Purpose of the Acquisition

The acquisition aims to enable Nirvana Labs to offer Vektor’s on-chain workflows as a managed service, providing multichain functionality for developers in on-chain data collection and execution, according to a statement shared with The Block.

Vektor’s integrations support over 50 protocols across more than 15 chains, allowing developers to query, compose, and execute activities across multiple blockchains effectively. This includes executing swaps, bridging, lending, and borrowing at platforms such as Curve, Balancer, and Uniswap v3.

Statements from Leaders

“Nirvana Labs is focused on expanding its web3 managed services by integrating Vektor’s technology, which has redefined developer interactions with protocols for data and execution,” said Nirvana Labs CEO Dan Burke.

The company highlights that robust infrastructure and innovative tools are critical as demand for web3-specific hosting solutions increases.

Vektor co-founder and CEO Andy Bryant expressed excitement about joining Nirvana Labs, saying, “We are eager to leverage their web3 cloud infrastructure to provide developers with advanced tools for complex on-chain development.”

Vektor co-founder and CTO Akram Hussein noted that they created the platform to simplify and enhance the on-chain development experience, and are thrilled to offer this on a leading web3 hosting platform.

Nirvana Labs Funding

Recent Funding Success

Nirvana Labs has raised $5.7 million in six months, with its cloud services being utilized by major crypto firms like Chainlink, BitGo, Goldsky, Thirdweb, and Pairpoint.

In July, Nirvana Labs announced it secured $4 million in a seed funding round co-led by Castle Island Ventures and RW3 Ventures to enhance its Web3 cloud services.

“Understanding the unique challenges faced by companies building on-chain applications with general-purpose cloud solutions, our goal is to provide exceptional cloud performance and cost savings as new alternative clouds emerge for the web3 space,” said Nirvana Labs founder Devin Bandar.