Web3 Social Protocol Lens Protocol Closes $15 Million in Funding Led by IDEO CoLab Ventures

Lens Protocol, a Web3 social protocol, closed a $15 million round of funding led by IDEO CoLab Ventures, with participation from venture capital firms General Catalyst, Variant and Blockchain Capital, as well as DAOs Flamingo DAO, DAOJones, Punk DAO. The funds raised will be used to help expand the protocol's ecosystem and continue its growth.

Built by Web3 technology company Aave, the Lens Protocol has been in beta since May 2022 and has so far granted access to a small number of users.

Aave CEO Stani Kulechov said the goal of Lens Protocol is to allow individual users to have more control over their data, and how it is shared according to Kulechov. "We want to build a social media network that doesn’t only benefit the users but everyone who contributes to it like developers as well."

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