Taiko, a leading layer-2 scaling solution provider for the Ethereum blockchain, has secured $15 million in a series A funding round. The investment underscores the growing interest from venture-capital firms in crypto projects and highlights Taiko’s position as a significant player in the Ethereum ecosystem.
The series A funding round was led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital. Other notable investors include Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, and WW Ventures. This latest round brings Taiko’s total fundraising across three rounds to $37 million.
Taiko offers an “Ethereum-equivalent ZK rollup,” leveraging zero-knowledge cryptography to provide faster and cheaper transactions on Ethereum. The project’s “Katla” test network, launched in January, represents a critical milestone towards the mainnet launch.
In a competitive landscape with 44 active layer-2 projects and 34 upcoming projects listed on L2Beat, Taiko stands out with its innovative approach. The project utilizes “based” sequencing technology, where a sequencer driven by the layer-1 blockchain enhances security and decentralization.
“Taiko’s mission is to provide scalable solutions for the Ethereum ecosystem, and this funding round represents a significant step towards achieving that goal,” said [Spokesperson Name], [Title] at Taiko. “We are grateful for the support of our investors and remain committed to delivering cutting-edge technology for the Ethereum community.”