Communications startup DoubleZero Foundation secured $28 million in funding at a $400 million valuation. The company builds a specialised network for blockchains using private fibre optic cables worldwide. Leading crypto venture capital firms Dragonfly and Multicoin Capital spearheaded the investment round.
Bold Vision Attracts Major Investment
DoubleZero Foundation aims to create a “new internet” that enhances blockchain performance dramatically. The startup now seeks additional “strategic partners” to invest at an increased valuation of $600 million. Venture capital firms compete intensely for allocation in this promising project.
The substantial early-stage valuation reflects the transformative potential of DoubleZero’s technology. Their approach tackles fundamental infrastructure challenges that limit blockchain scalability. Furthermore, the project focuses on practical utility rather than speculative tokenomics.
Technical Infrastructure Revolutionizes Blockchain Speed
DoubleZero coordinates a global network of private fibre optic cables for blockchain data transmission. This infrastructure bypasses the public internet’s limitations, offering superior speed and reliability. Their motto, “Increase Bandwidth, Reduce Latency” (IBRL), resonates strongly within the Solana ecosystem.
The technology acts as an enabling layer for Solana’s ambitious goal of processing one million transactions per second. However, the system maintains compatibility with other blockchain networks as well. This flexibility positions DoubleZero as a crucial infrastructure provider for the entire crypto ecosystem.
Solana Connection Runs Deep
DoubleZero Foundation’s President Austin Federa previously led strategy at the Solana Foundation. The startup recently opened its permissioned testnet specifically to Solana validators and RPCs. In addition, the project plans expansion to other chains in the future.
At Solana’s Breakpoint conference, Jump Crypto‘s Firedancer team showcased their ultrafast Solana client running at impressive speeds. They privately utilised DoubleZero infrastructure for this demonstration. This collaboration highlights the strong ties between the projects.
Core Contributors Bring Serious Credentials
Co-founders Andrew McConnell and Mateo Ward lead Malbec Labs, the project’s core contributor company. Jump Crypto also contributes significantly by providing early bandwidth to the network. Other infrastructure partners include RockawayX, Distributed Global, Latitude, and Teraswitch.
Federa jokingly calls DoubleZero “crypto’s first infrastructure project” due to its reliance on physical hardware. Rather than building costly infrastructure from scratch, the company partners with communications businesses. These businesses monetise their underutilised capacity through the DoubleZero network.
Wall Street Speed War Parallels Emerge
The approach resembles Wall Street‘s high-frequency trading infrastructure investments. Trading firms spent millions on specialised fibre optic lines to reduce order latency by milliseconds. Similarly, DoubleZero applies this proven model to blockchain technology.
Infrastructure company Helius compared DoubleZero’s data pipes to a private car service versus the public internet’s Uber-like experience. Both reach the destination, but the private option offers speed and predictability advantages. This analogy illustrates the value proposition in simple terms.
Mainnet Launch Planned for Late 2025
DoubleZero aims to launch its mainnet in the second half of 2025. The testnet beta currently runs across multiple cities, focusing initially on Solana validators. However, the infrastructure remains blockchain-agnostic by design.
“I think the Solana community has very resoundingly said, ‘We would like to exceed what’s possible on the public internet,’” Federa stated on a recent X Spaces. He emphasised that blockchain networks now reach speeds where dedicated infrastructure delivers meaningful benefits.
What’s Next for DoubleZero?
Blockchain performance increasingly depends on communication infrastructure rather than software optimisations alone. Projects like DoubleZero address a critical bottleneck in the ecosystem. As blockchains evolve from experimental technology to production systems, specialised infrastructure becomes essential.
The significant investment validates DoubleZero’s infrastructure-first approach. Moreover, it signals growing maturity in the blockchain ecosystem. Whether this “new internet” delivers on its promises remains to be seen, but major crypto investors clearly believe in its potential.
Disclaimer: This content does not have journalistic/editorial involvement of Trade Brains Team. Readers are encouraged to conduct their own research before making any decisions.
