Fluent Labs Raises $8M for Hybrid Execution Networks Amid Crypto Volatility

Fluent Labs, a developer of hybrid execution networks, has successfully raised $8 million in a funding round led by Polychain Capital. The round also saw participation from several other investors, including Primitive, dao5, Symbolic Capital, Builder Capital, Nomad Capital, and Public Works, as well as angel investors Balaji and Dingaling.

The funding round is the first for Fluent Labs, and the company has not disclosed its valuation. Fluent is the first hybrid execution network, an Ethereum L2, which blends Wasm, EVM, and SVM applications into a unified execution environment. This allows programs written for different virtual machines to work together in a unified execution environment.

The funding round comes at a time when the crypto market is experiencing significant volatility, with several high-profile flash crashes occurring in recent days. Despite this, investors remain bullish on the potential of hybrid execution networks and the broader crypto ecosystem.

The funding round is a testament to the growing interest in hybrid execution networks and the potential they hold for the future of blockchain technology. As the crypto market continues to evolve, investors are increasingly looking for innovative solutions that can drive growth and adoption.