Lava Network, a blockchain infrastructure protocol, has secured US$12 million in a funding round from investors like iAngles, Animoca Brands, Gate.io Ventures, CoinGecko Ventures, and Polygon co-founder Sandeep Nailwal.

The company will use the funds to improve its infrastructure, enabling access across over 40 blockchain networks.

Lava also announced the launch of its LAVA token, set to be listed on major cryptocurrency exchanges, including Bybit, on Thursday.

Lava’s infrastructure is designed to accommodate the increasing role of AI in blockchain networks, with AI-driven transactions projected to comprise 80% of blockchain activity by 2025.