Irys, a programmable datachain platform, has raised $10 million in a Series A funding round led by CoinFund, with participation from Hypersphere, Tykhe Ventures, Varrock Ventures, Breed VC, Echo Group, Amber Group, and WAGMI Ventures.
Why it matters: The funding will accelerate Irys’ infrastructure expansion, strategic partnerships, team growth, and institutional adoption of datachain technology ahead of its mainnet launch, addressing inefficiencies in the $3 trillion data market.
The details:
- Irys combines a high-performance data layer with a native smart contract execution layer, enabling data to carry embedded instructions for licensing, monetization, and access control.
- The platform aims to allow data creators to capture the value they generate by turning static data into programmable economic assets.
- Irys has established a network of over 80 strategic partners, primarily focusing on AI use cases, and has processed over 600 million data transactions.
- The company has around 4 million active wallets engaging on the network daily.
This latest round brings the total capital raised by Irys to $20 million.
What they’re saying:
- “The data economy has a massive infrastructure problem,” said Josh Benaron, CEO and Founder of Irys. “AI companies scrape trillions of dollars worth of content while creators see nothing. Enterprises sit on valuable datasets they can’t monetize. We’re building the infrastructure that finally allows data creators to capture the value they generate, turning data that historically is stored statically, into programmable economic assets.”
- “Irys represents the infrastructure layer for the AI economy,” said Einar Braathen, Partner at CoinFund. “Where traditional approaches require piecing together multiple solutions, Irys has created unified infrastructure that makes data programmable. This is the AWS moment for on-chain data.”
What’s next: Irys’ advancements mark a significant milestone in the development of datachain technology, potentially transforming the way data is monetized and utilized in various sectors.
