Xpring and Coil invest in Kava Labs

Kava Labs (@kava_labs on twitter), a Cambridge, MA and San Francisco, CA-based company, provides Interledger solutions for blockchains, wallets, and exchanges. Kava’s solutions enable users to send and receive near-instant transactions, make cross-currency payments, and access liquidity on-demand.

This short video published a few days ago introduces Kava Labs:

https://www.youtube.com/watch?v=xyHXj_VniOM

According to an announcement by Kava Labs on Medium:

“Kava Labs has raised $1.2 Million in funding to continue the development of our Interledger solutions for blockchain technology. These solutions we believe are vital keys to the blockchain industry as a whole as they solve the scaling, interoperability, and liquidity challenges limiting blockchain technology today.The investment round was led by Lemniscap and Digital Asset Capital Management, along with other investors including Xpring of Ripple, Coil Technologies, 2020 Ventures, Arrington Capital, Hard Yaka, Robot Ventures, UniValues Associates, and a number of private investors.”

 Ethan Beard, SVP Xpring, Ripple stated:

“The Kava team is dedicated to the vision of interoperability in payments and amongst blockchains. We are excited to partner with them as they build out the Internet of Value and enable seamless value transfer through Interledger.”

Vanessa Pestritto (Xpring Director) also announced the investment on Medium:

“Kava, the world’s first Interledger solutions provider, is working to integrate companies and blockchains with Interledger. The team has worked on open source plugins for the Bitcoin Lightning Network and Ethereum. These plugins enable BTC, ETH and XRP to be sent via the Interledger network. Kava services blockchains, wallets and exchanges to integrate with Interledger to enable cross chain transactions. Led by co-founders Scott Stuart, Brian Kerr, and Ruaridh O’Donnell, the team continues to explore formats to increase adoption of Interledger and will be announcing more projects soon.

It will be exciting to see what projects Kava Labs has in store for the future.