Matter Labs, the Berlin, Germany-based developer of zkSync, a solution that reduces the cost of Ethereum transactions, raised $200M in Series C funding.
The round was led by Blockchain Capital and Dragonfly Capital, with participation from Lightspeed, Variant, and a16z.
The company intends to use the funds to continue to extend its development efforts of zkSync. The capital will be used to:
- Launch first-party Matter Labs-built projects on zkSync;
- Fund third-party ecosystem projects built by other teams;
- Develop Matter University, its core education and tutorial center; and
- Continue to grow our team.
Matter Labs is advancing ZkSync, a full open source Layer 2 scaling solution on Ethereum that offers low gas and fast transactions, with no compromise on security. It enables users to withdraw assets to Layer 1 at any time. zkSync 2.0 supports Account Abstraction, Solidity and Vyper, and is built with an LLVM compiler that in future will give people the ability to tap into the power of other programing libraries written in Rust, C++, and Swift.
FinSMEs
25/11/2022