PANews reported on October 29 that according to Chainwire, London-based KRNL Labs announced the completion of a $1.7 million pre-seed round of financing, aiming to create the largest multi-chain software registry in the Web3 field. This round of financing was supported by well-known investors, including TRGC, Superscrypt, Ryze Labs, Builder Capital, Blockchain Founders Fund, WAGMi Ventures, STIX, YAP Capital and several strategic angel investors.

KRNL Labs is committed to building a node package management system for decentralized computing through cross-chain communication, similar to the Node Package Manager (npm) in JavaScript development. The platform supports cross-chain modular execution sharding, enabling developers to build decentralized applications (dApps) that leverage multiple blockchains simultaneously, improving efficiency and scalability. Co-founder Tahir Mahmood said that KRNL's "kernel" sharding is community-built, permissionless and monetizable, supporting secure and efficient cross-network execution. KRNL Labs plans to support all major Ethereum Virtual Machine (EVM) networks and integrate with Web2 through OpenAPI, and is expected to expand to more non-EVM networks in 2025.