Ithaca is building infrastructure and commercial products around open-source Ethereum developer tooling, focusing on projects like Reth and Foundry. The team—fewer than 20 engineers—comprises lead contributors and maintainers of those open-source projects. Ithaca plans to accelerate crypto development by contributing to and maintaining public goods, beginning with the release of Odyssey, a Layer 2 built on Reth for performance and stability (following the OP Stack standard). Georgios Konstantopoulos, who helped build Reth and other projects, will lead Ithaca as CEO while continuing his role at Paradigm. Matt Huang will join Ithaca as chairman. Paradigm announced a $20 million investment to support Ithaca’s R&D and product efforts, and will continue funding and supporting open-source projects alongside the Ithaca team.

Total raised

$20M

Funding rounds

1

Latest round

Equity

Latest activity

Oct 2024