Zulu Networks, a George Town, Cayman Islands based provider of a Two-Tiered Bitcoin Layer 2 offering EVM and UTXO support, raised$3M in Pre-Seed funding.
Backers included Cryptogram Venture, D11 Labs, Web3.com Ventures, Satoshi Labs, Splinter Node Capital, Polk Street Capital, BlueRun Ventures China, Ledger Capital, Link Capital, Jingle Mining,Waterdrip Capital, K24 Ventures, and CatcherVC, among others.
The company intends to use the funds to
- enhance the infrastructure of ZuluPrime and ZuluNexus, focusing on EVM compatibility, UTXO scalability, and smart contract functionality to create a versatile platform for DeFi applications.
- build a fully decentralized Bitcoin Bridge, advancing its bridge infrastructure capabilities, connecting not only all Bitcoin Layer 2,
- attract developers for innovative BitFi applications and establish strategic partnerships, broadening the adoption and utility of Bitcoin DeFi.
- conduct research and development focused on Bitcoin, aiming to explore new technologies and methodologies that enhance Bitcoin’s capabilities and integration within the Zulu architecture.
Zulu is building and empowering a wide ecosystem within the Bitcoin economy, allowing native Bitcoin assets to engage with DeFi applications and Financial Services, while preserving the original security, reliability, and capabilities of the Bitcoin Network. As player in a dual-layer architecture on Bitcoin (L2 & L3), The company introduced:
ZuluPrime (EVM): an EVM-compatible L2 platform aimed at building a new BitFi (Bitcoin DeFi) ecosystem through smart contracts and decentralized applications (dApps).
ZuluNexus (UTXO): a L3 platform that integrates the scalability of UTXO and focuses on innovation of Bitcoin’s original ecosystem and native assets.
Decentralized Bitcoin Bridge Infrastructure: Zulu Network is building the first decentralized Bitcoin bridges to connect all Bitcoin Layer 2s and the entire crypto ecosystem to the Bitcoin ecosystem.
FinSMEs
08/04/2024