DeFi lending protocol Aave’s development company Aave Companies announced on Thursday (16th) that it will be renamed Avara and has acquired a Web3 startup company in Los Angeles.
According to the announcement released by Avara, the company is now the parent entity of Aave, Lens, stablecoin GHO, Sonar, and other brands. In addition to the rebranding, Avara has also acquired the Web3 software development company Los Feliz Engineering, which is behind the Ethereum crypto wallet Family and developer component library ConnectKit.
Benji Taylor, founder of Family, will join Avara as Senior Vice President of Product and Design, and the entire Los Feliz Engineering team will also join Avara.
Stani Kulechov, founder of Avara, wrote in a statement:
The acquisition of Los Feliz Engineering by Avara is the company’s second acquisition since its founding. The company acquired web3 community gaming app Sonar on December 5, 2022, to expand the ecosystem of the decentralized community media platform Lens.