What Irys does

Irys, legally registered as BN Labs Ltd in England and Wales with headquarters in London, operates a Layer-1 programmable blockchain datachain that unifies storage, execution, and verification in a single base layer. The platform enables onchain storage of large data volumes, allows smart contracts to access that data directly, and provides cryptographic proof of data persistence over time. The company is the same team behind Bundlr Network, rebranded to Irys, and launched its mainnet in late November 2025.

The underlying technology is purpose-built for AI and blockchain integration, offering EVM compatibility, high throughput, fast block times, and large storage capacity. Irys distributes an MIT-licensed open-source SDK and operates permissionless infrastructure including upload and retrieval gateways (uploader.irys.xyz, gateway.irys.xyz), a mainnet and testnet block explorer, a testnet faucet, and EVM JSON-RPC endpoints. The native token is listed on major exchanges including Coinbase and MEXC, and the company has raised approximately $18.7M across three rounds since 2022, with a $10M Series A led by CoinFund in August 2025.

Irys targets blockchain developers building decentralized data applications and AI/ML applications that require scalable blockchain-integrated data infrastructure. Its go-to-market is developer-led, relying on comprehensive documentation, an ecosystem page, a portal with quests, and community engagement via Discord and X/Twitter. Revenue is generated through blockchain transaction fees for data storage, upload, and retrieval operations, though pricing and revenue are not publicly disclosed. The team is small at 1-10 employees with founder Josh Benaron as CEO.

Name

Irys

Legal name

BN Labs Ltd

Website

https://irys.xyz

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Irys is a Layer-1 programmable blockchain datachain combining storage, execution, and verification in a single base layer. It targets blockchain developers and AI/ML applications needing scalable onchain data infrastructure, with its native token listed on Coinbase and MEXC.

Ownership category

akta.pro rank

Product category

Layer-1 Blockchain Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)

akta.pro primary industry

Decentralized Storage Networks (IPFS/Filecoin/Arweave, archival & retrieval) (FSAPALAA)

akta.pro secondary industries

Decentralized Data Availability & Storage Verification (DA layers, proofs of storage/replication, audit networks) (FSAPALAH), Oracles, Data Feeds & Attestations (price feeds, randomness, proofs) (FSAPAAAI), Developer APIs & Node Access (RPC providers, node infrastructure APIs) (FSAPABAC)

Keywords

• Layer-1 blockchain
• Programmable datachain
• Onchain data storage
• Smart contract platform
• Decentralized data infrastructure

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Marketing or Sales, Operations

Revenue model

1. Blockchain Transaction Fees: As a Layer-1 blockchain datachain, Irys likely generates revenue through transaction fees for data storage, upload, and retrieval operations on the network.

Distribution channels3 records

Marketing channels7 records

Core offering

Irys operates a Layer-1 programmable datachain that stores large volumes of data onchain, lets smart contracts use that data directly, and cryptographically proves the data remains available over time. Storage, execution, and verification are built into the same base layer but operate independently. Supporting infrastructure includes a permissionless upload gateway, a retrieval gateway, an EVM-compatible devnet, a block explorer, a testnet faucet, and an open-source SDK.

Product overview

Irys is a unified Layer-1 programmable datachain that provides storage, execution, and verification capabilities in a single platform. The core offering is the Irys Mainnet, which enables onchain data storage with direct smart contract access and time-proven data availability. The product portfolio includes developer tools (SDK, Faucet, Devnet, Testnet Explorer), infrastructure services (Upload Gateway, Retrieval Gateway), user-facing interfaces (Explorer, Portal), and documentation. Irys was formerly known as Bundlr Network, and all legacy infrastructure continues under the new brand.

Differentiator

Problem solved

Functional benefit

Products and services

• Irys Mainnet Layer-1 programmable datachain that stores large volumes of data onchain, lets smart contracts use it directly, and proves data is still there over time. Combines storage, execution, and verification in one base layer.
• Irys SDK (Open Source) Open-source software development kit (JavaScript, MIT license) that lets developers integrate with the Irys datachain to upload, retrieve, and interact with onchain data from their applications.

Quantifiable outcome

• Supports AI-scale workloads and decentralized data applications

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Two partnerships are on record, tiered flagship.

• CoinbaseflagshipOthers
• MEXCflagshipOthers

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Filecoin: Filecoin is the leading decentralized storage network. Irys directly competes with Filecoin for blockchain-native data storage workloads, though Irys differentiates by integrating execution and verification in one L1.
• Arweave: Arweave provides permanent data storage via a blockchain-based protocol. Irys (formerly Bundlr, which was built on Arweave) competes for the same onchain permanent-storage use cases, but as an independent L1 rather than a layer on top of Arweave.
• Sia: Sia is a decentralized cloud storage network. Like Irys, it targets developers and applications needing distributed, blockchain-secured data storage, though Sia focuses on general-purpose storage rather than onchain smart-contract integration.
• Storj: Storj is a decentralized object storage platform serving enterprise and developer customers. It is comparable to Irys as a decentralized storage alternative, though Storj is more cloud-storage oriented and less focused on-chain integration.

Emerging players

• Celestia: Celestia is a modular data availability (DA) layer for blockchains. Irys overlaps in providing data availability and storage verification for blockchain applications, with Irys also bundling execution and storage in one chain.
• EigenDA: EigenDA is a data availability layer built on EigenLayer's restaking primitives. It overlaps with Irys in serving data availability and storage verification needs for rollups and AI/blockchain applications.
• 0G Labs: 0G Labs is building a modular AI-focused blockchain with high-throughput data availability for AI workloads. It directly overlaps with Irys's positioning as a datachain purpose-built for AI-scale applications and verifiable data.

Broad incumbents

• Near Protocol: Near Protocol is an L1 blockchain with sharding and strong data availability characteristics. As a broader L1 with data infrastructure features, it represents a wider-portfolio competitor that could absorb onchain storage use cases Irys targets.
• Avalanche: Avalanche is an established L1 blockchain supporting custom subnets and EVM-compatible smart contracts. As a broader L1 with enterprise-grade throughput, it competes with Irys for developers building data-intensive decentralized applications.

Others

• Chainlink: Chainlink is a leading oracle and off-chain data provider network for smart contracts. While not a direct storage competitor, it overlaps with Irys's verification/data-attestation narrative and serves many of the same Web3 developers needing reliable off-chain/onchain data.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/irys_xyz
• GitHubgithub.com/Irys-xyz
• LinkedInlinkedin.com/company/irys-xyz

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds3 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Irys