Hyve DA closes equity and token financing led by Lemniscap

We were pleased to advise Hyve DA on its seed funding round led by Lemniscap, with various other VCs involved as co-investors.  The deal involved complex, interweaving strands of corporate, tax and intellectual property law and HLaw assembled a cross practice team to push it to a successful completion.

Lemniscap commented in their deal release on LinkedIn: “Given the conveyor belt of dApps and L2 solutions coming to market, the importance of low-overhead & high-throughput data availability is crucial for ensuring the scalability, security, & efficiency of blockchain networks. 

Paving the way for the next generation of blockchain ecosystems & applications, HyveDA – a fully permissionless data availability layer – is alleviating bottlenecks at both the network & individual component level, meeting the needs of the most ambitious dApps.  Powered by a throughput of 1 GB per second, HyveDA is addressing growing demand for secure, scalable & cost-effective data availability, operating on a permissionless network, backed by leading infrastructure providers. 

We are firmly aligned with the team’s mission to support developers & enterprises looking to build high-performance dApps with high-throughput, no latency, scalability & flexibility – critical elements of what will be an increasingly decentralised future.”

Humphreys Law