CoinFund Leads $10M Series A for Irys—The Layer 1 Data Chain Set to Revolutionize On-Chain Storage

Another day, another nine-figure crypto raise—but this one might actually justify the hype.

Irys just secured $10 million in Series A funding led by CoinFund, positioning itself as the next major player in decentralized data storage. The layer-1 protocol promises permanent, scalable, and tamper-proof data anchoring—something legacy chains still struggle with.

Why It Matters

Most blockchains treat data like a necessary evil—bulky, expensive, and slow. Irys flips the script by making data integrity its core function. No more relying on off-chain solutions or trusting third-party storage providers. Everything lives on-chain, immutable and verifiable.

Built for builders, the platform supports seamless integration with existing ecosystems. Developers get granular control over data access, versioning, and provenance—critical for everything from NFT metadata to enterprise audit trails.

CoinFund isn’t throwing cash at just another ‘decentralized Dropbox.’ They’re betting on infrastructure. Real infrastructure. The kind that doesn’t evaporate when the next meme coin pumps and dumps.

Let’s be real—the crypto space has more ‘revolutionary’ storage solutions than a Silicon Valley data center has servers. But Irys has one thing others don’t: a layer-1 foundation. No middleware, no bridges, no extra attack surfaces. Just raw, chain-native data persistence.

So while Wall Street still thinks Bitcoin is just ‘digital gold,’ projects like Irys are quietly building the future of verifiable data—one immutable byte at a time. Sure, $10 million might be pocket change in traditional VC circles, but in crypto? It’s enough to make even the most cynical trader glance up from their portfolio.

An “AWS moment” for onchain data

Irys, which launched the testnet of its programmable datachain in January 2025, offers ethereum Virtual Machine-compatible execution and has seen notable growth with more than 80 strategic partners and over 600 million data transactions processed. The platform also boasts over 4 million active wallets. 

Team Irys plans to use the funding to expand its infrastructure, team and strategic partnerships. Its eyes are on accelerating institutional adoption of the datachain economy ahead of its mainnet launch.

As Einar Braathen, partner at CoinFund notes, Irys could be the “AWS moment” of the datachain ecosystem. His comment references the disruptive impact that the cloud service Amazon Web Services has had across the market.

“Irys represents the infrastructure layer for the AI economy,” Braathen noted. “Where traditional approaches require piecing together multiple solutions, Irys has created unified infrastructure that makes data programmable. This is the AWS moment for onchain data.”