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A New Milestone for Web3 Infrastructure

Irys has raised $10 million in a Series A round, with participation from CoinFund, Hypersphere Ventures, Tykhe Ventures, Varrock Ventures, Breed VC, Echo Group, Amber Group, and WAGMI Ventures.

Founded by Josh Benaron, Irys is building a critical foundation for the next era of Web3: scalable, decentralized infrastructure that balances security, usability, and long-term sustainability.

This round positions Irys as one of the companies to watch in the evolving Web3 infrastructure race, where the winners will define how billions of people interact with decentralized networks.

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The Problem: Blockchain’s Infrastructure Bottlenecks

Despite the hype around Web3, blockchain networks face several structural bottlenecks that limit mainstream adoption:

• Scalability challenges  - As networks grow, transaction throughput and confirmation times degrade.
  
• High costs  - Gas fees and transaction costs remain a barrier to everyday users.
  
• Data permanence  - Storing data on-chain is expensive and technically complex.
  
• Developer complexity  - Teams building in Web3 often face fragmented tools and limited infrastructure support.
  
• Security risks  - Centralized points of failure still exist across many protocols.
  

Without solving these infrastructure issues, Web3 risks becoming a niche technology rather than a mainstream economic backbone.

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Irys’ Solution: Building for Scale and Permanence

Irys is developing a high-performance infrastructure stack that addresses these constraints head-on. While specifics of the tech stack are still being rolled out, the company’s thesis revolves around:

• Decentralized data permanence: Ensuring critical data remains accessible and verifiable for decades, not just years.
  
• Low-latency scaling: Infrastructure that can handle thousands of transactions per second without compromising decentralization.
  
• Developer enablement: Providing APIs, SDKs, and integrations that make it easier for builders to adopt Web3 tools.
  
• Cost efficiency: Optimizing for lower transaction costs to expand accessibility.
  
• Security-first design: Minimizing single points of failure and protecting user assets.
  

By removing friction for both developers and end users, Irys aims to become a core layer in the decentralized internet.

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Why Investors Are Betting on Irys

The investor list speaks volumes. With CoinFund and Hypersphere Ventures  - both known for early convictions in Web3 infrastructure  - Irys has secured backers who understand the long-term horizon of decentralized ecosystems.

Investor conviction is rooted in:

1. Infrastructure as leverage: In every tech wave, infrastructure players (AWS for cloud, Stripe for payments) capture outsized value. Web3 will be no different.
   
2. Growing market demand: Decentralized apps, DeFi protocols, and digital identity systems all need scalable, reliable backends.
   
3. Founder vision: Josh Benaron’s leadership blends technical depth with clarity on how to commercialize infrastructure.
   
4. Strategic investors: Groups like Amber and Echo bring both liquidity networks and deep ecosystem ties, accelerating adoption.
   

This round isn’t just about capital  - it’s about assembling the right coalition of believers to push infrastructure into the next stage.

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Founder Insight: Infrastructure Is the Real Web3 UX

A critical insight driving Irys is the idea that users don’t think about infrastructure  - until it fails. For Web3 to succeed, infrastructure must be invisible, reliable, and intuitive.

Just as users don’t need to understand cloud architecture to use Netflix, Web3 users shouldn’t need to worry about nodes, consensus, or gas fees. Irys’ thesis is that by abstracting away complexity, they can unlock a much larger audience for decentralized systems.

For founders, the lesson here is simple: solve the invisible problems. Infrastructure may not be flashy, but it’s where ecosystems live or die.

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The Road Ahead: Scaling with $10M Series A

With the fresh capital, Irys plans to:

1. Expand engineering teams  - doubling down on core infrastructure development.
   
2. Launch new developer tools  - SDKs and integrations to make building with Irys frictionless.
   
3. Broaden partnerships  - working with protocols, dApps, and enterprises that need long-term reliability.
   
4. Invest in ecosystem growth  - supporting startups that build on top of Irys.
   

This roadmap positions Irys not just as a tool provider, but as a backbone of Web3 adoption.

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Market Outlook: Infrastructure as the Next Web3 Frontier

The Web3 industry is still in its infrastructure phase, similar to the early 2000s internet. Key trends underscore the urgency:

• Decentralized data permanence is becoming a critical need for industries like finance, healthcare, and identity verification.
  
• The global blockchain market is projected to reach $1.43 trillion by 2030 (Fortune Business Insights).
  
• Developers are voting with their feet: growth in wallets and applications is outpacing infrastructure readiness, creating demand for scalable backends.
  

The next wave of adoption will hinge less on speculative assets and more on the reliability of decentralized infrastructure. That’s where Irys is staking its claim.

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Final Thoughts

Irys’ $10 million Series A is a validation of both its vision and the broader thesis: the future of Web3 will be defined by infrastructure.

For builders and founders, the key takeaways are:

• Infrastructure creates leverage. The biggest wins in past tech waves came from the players enabling others.
  
• Developer-first design is non-negotiable. If developers can’t easily build, ecosystems stall.
  
• Now is the time to build. The infrastructure layer of Web3 is still wide open  - the companies that solve scalability and permanence will become tomorrow’s giants.
  

Irys is betting that by solving blockchain’s most critical pain points, it can become the backbone of a truly decentralized future.