Andreessen Horowitz Leads $50M Funding Round for Matter Labs
Matter Labs will use the funding to expand its scientific and engineering teams and finance its business growth.
Nov 8, 2021 at 1:28 p.m. UTCUpdated May 11, 2023 at 7:06 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/LCWNGSMZZBCVPHHWM4VJE6SMWA.jpg)
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Matter Labs, the firm behind Ethereum layer 2 scaling protocol zkSync, has raised $50 million in a Series B funding round led by Andreessen Horowitz (a16z), the company said Monday.
- The funding will be used to finance Matter Labs’ business growth, including expanding its scientific and engineering teams.
- Other investors in the round included Placeholder, Dragonfly and 1kx, who also participated in the $6 million Series A funding round that closed in February.
- Blockchain.com, Crypto.com, Consensys, Bybit, OKEx, Alchemy, Covalent, Aave, ParaSwap, Lido, Futureswap, Gnosis, Rarible and others also contributed to the round.
- Matter Labs builds zero-knowledge (ZK) proof technology on Ethereum and launched its first public ZK rollup prototype in 2019.
- ZkSync version one is a ZK rollup for payments that is designed to speed up transactions and has been live on the Ethereum mainnet since July 2020.
12:55
a16z Crypto CTO on ZK Projects ‘Jolt’ and ‘Lasso,’ State of Crypto Tech Research
06:18
Eco App CEO on Launching 'Cash-Like' Crypto Wallet 'Beam'
03:46
Venture Capital Firm a16z Unloads $7M of MKR Tokens as Price Soars
06:16
A16z Chooses London as Destination for First Office Outside U.S.
:format(webp)/www.coindesk.com/resizer/HVesWmYnlcxL9xZ0eIdHN4fFpSg=/arc-photo-coindesk/arc2-prod/public/DGOZQITI7VFEPBVYVZBBVVV4I4.png)