Mar 30, 2022

KR1 invests in Subspace Labs alongside Coinbase, Alameda and Hypersphere “Subspace is a big vision and quite a radical approach relative to current blockchain architectures and designs," Keld van Schreven said. KR1 PLC (AQSE:KR1) has invested US$1.5mln into Subspace Labs Inc, a new eco-friendly scalable layer-one blockchain, as part of a US$32.9mln funding round. Coinbase Ventures was among the other investors in Subspace along with Alameda Research and Hypersphere Ventures. Subspace aims to solve the blockchain ‘bloat’ problem - which occurs as more information is added to blockchains over time, which slows down processing times - using a combination of consensus, storage, and computing. “Subspace is a big vision and quite a radical approach relative to current blockchain architectures and designs," said managing director Keld van Schreven. “They had a successful seed round with world class investors and this fundraise allows them to drastically scale up their team. “Historically, we have liked to invest in and support radical technologies with strong founding teams, especially in the infrastructure vertical, and Subspace fits this disruptive thesis perfectly.”