On June 18, people familiar with the matter revealed that Avara founder and CEO Stani Kulechov is in contact with US venture capital institutions to seek $50 million in financing for Lens Protocol, which will bring its valuation to $500 million.
A spokesperson for Avara did not confirm or deny the information and declined to comment further. Asked about the coin offering, Kulechov said it was "not there yet" and that the main target was the upcoming Lens Network, a native network built on the ZKsync technology stack. Lens Protocol raised $15 million in 2023; rival Farcaster raised $150 million at a $1 billion valuation four weeks ago.
Lens Protocol seeks to raise $50 million at $500 million valuation
2024-06-18 00:13:01
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