Taiko, an Ethereum Layer 2 scaling solution provider, raised US$15M in Series A funding.
The round was led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital. Other participating investors included Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, WW Ventures, and more.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Daniel Wang, Taiko is an Ethereum-equivalent ZK-Rollup, scaling Ethereum by supporting all EVM opcodes in a Layer 2 architecture that is decentralized, permissionless, and secure. Since it was founded in 2022, it has executed six testnets involving over 1,100,000+ wallets, 30,000+ proposers, and 14,000+ provers. There are over 100 live apps in the Taiko ecosystem today, supported by a vibrant community of 850,000+ members on Discord.
Taiko launched its 6th testnet, Katla, early this year. Katla is the first testnet to use Taiko’s Based Contestable Rollup (BCR) design, a configurable, multi-proof rollup architecture that features a contestation mechanism and based sequencing. Katla serves as the foundation of Taiko’s upcoming mainnet launch. In the future, the company will develop Based Booster Rollup (BBR), a design that tackles the liquidity fragmentation issue by allowing developers to deploy on Ethereum and scale natively across all L2s.
FinSMEs
06/03/2024