Blockchain technology firm Aave Companies has rebranded as Avara and announced the acquisition of a Los Angeles-based web3 startup.
Aave Announced a Name Change
According to the statement made by the company, Avara will now be the parent company of Aave, Lens, stablecoin GHO, Sonar and other brands.
In addition to the name change, Avara also acquired Los Feliz Engineering, the web3 software development startup behind Ethereum crypto wallet Family and developer library ConnectKit.
Family founder Benji Taylor will join Avara as senior vice president of product and design. The entire Los Feliz engineering team will also join Avara.
“Avara's founder, Stani Kulechov, said in his statement: “Our transformation into Avara and the acquisition of Family is not just a name or structure change.
“These are important steps towards our ultimate mission: an open, decentralized internet that is equitable, inspires participation, and fosters innovation.”
Avara's acquisition of Los Feliz Engineering was the second acquisition he made in his lifetime. The company acquired the web3 social gaming application Sonar on December 5, 2022 to expand the ecosystem of Lens, a decentralized social media platform.
*This is not investment advice.