Catenaa, Saturday, March 15, 2025 – DoubleZero Foundation, a startup aiming to build a new infrastructure to enhance blockchain performance, has secured $28 million in funding at a $400 million valuation, according to sources familiar with the deal. The round, led by Dragonfly and Multicoin Capital, is part of the company’s larger push to establish a global network of fiber optic cables designed to improve blockchain data transmission efficiency.
DoubleZero’s innovative approach focuses on creating a private, high-speed communication network tailored for blockchains. Its technology, which promises to reduce latency and increase bandwidth, could support the ambitions of blockchain ecosystems like Solana, which aims to process up to one million transactions per second. The company plans to open its testnet to Solana validators and other blockchain networks in the future.
The startup’s network will utilize fiber optic cables already operated by several key players in the industry, including Jump Crypto, RockawayX, and Teraswitch. This private infrastructure promises faster, more predictable data transmission than the public internet, enabling blockchains to scale more effectively. DoubleZero’s founders, including former Solana Foundation head Austin Federa, see this as a critical infrastructure project for crypto, likening it to the private networks used by high-frequency trading firms to maximize efficiency.
