EigenLayer Raised $100M From a16z

Reported by The Block, Venture capital firm Andreessen Horowitz has invested $100 million in Eigen Labs, the core development team behind the Ethereum restaking project EigenLayer, Bloomberg first report reported on Thursday.

EigenLayer later announced the investment in a blog post, with Ali Yahya, General Partner of Andreessen Horowitz’s blockchain-focused investment fund a16z crypto, confirming it had led the Series B round.

"We're excited to partner with [EigenLayer founder] Sreeram [Kannan] and the whole team on building a platform that unlocks a new dimension of open innovation on top of Ethereum," Yahya said.

EigenLabs previously closed a $50 million Series A funding round in March 2023, led by Blockchain Capital with participation from Coinbase Ventures and Polychain Capital, among others.

"We believe that, by further unbundling cryptoeconomic security from the EVM, EigenLayer has the potential to unlock 100x faster innovation on technologies like consensus mechanisms, novel virtual machines, decentralized oracles, bridges, and networks with specialized hardware in the same way that Ethereum unlocked 100x faster innovation at the application logic level by introducing smart contracts," Yahya added.