Matter Labs secures Series C funding <br><BR>

Matter labs funding

Matter Labs secures Series C funding


MatterLabs is the creator of a Layer 2 project with a focus on scaling Ethereum with the use of zero-knowledge proofs. It aims to accelerate the adoption of public blockchains and the ongoing financial revolution.

Its layer 2 product is called zkSync and its in production since 2020. The properties of zkSync include being general purpose, EVM compatible, support for Solidity and being open source

Currently, zkSync 2.0 is in production and is on mainnet, moving towards a full gated release. Currently the mainnet is live with limited access for internal testing. The company will conduct a security audit along with stress tests.

There are several projects from Defi to NFTs that are building on zkSync including a 1-inch network, Gnosis Safe, Yearn Finance, OKX Wallet, Chainlink, etc According to the company, the full launch of the layer 2 will be the largest layer 2 launches with more than 150 projects launching on the chain simultaneously.

The company has plans to launch a layer 3 on top of the layer 2. Among other things, the layer 3 will offer 10 X scaling, lower gas fee, ease of use, options to customize the chain and secure the privacy based on the needs of the individual.

About the deal

Matter Lab s has raised $200 Million in its Series C funding round led by Blockchain Capital and Dragonfly Capital. Other investors in the round included Lightspeed Venture Partners, Variant, Andreessen Horowitz. Fundraise of $200 million is the largest fundraise in blockchain in the last couple of months that has mostly seen Seed and Series A rounds.

The company will use the funding to launch first party Matter Labs built projects on zkSync as well as fund third party ecosystem projects being built by other teams. Matter labs also has plans to develop Matter University, it’s core education and training center and grow its team to make zkSync the number 1 choice for developers.

With the latest fundraise, the fundraising for zkSync has reached 458 million including a 200 million dedicated ecosystem fund, a 50 million Series B and 8 million are Series A and Seed rounds.

Table of Contents

  • Deal Summary
  • Company Details
  • Company Management
  • About the Company
  • ZK Proofs
  • Roadmap
  • About the Deal

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