Lagrange Labs, a NYC-based company which specialises in scaling blockchain computation, raised $13.2M in Seed funding.
The round was led by Founders Fund, with participation from Archetype Ventures, 1kx, Maven11, Fenbushi Capital, Volt Capital, CMT Digital, Mantle Ecosystem Fund and various angels.
The company intends to us the funds to accelerate its research and development efforts, focusing on refining its ZK Coprocessing platform and expanding its application across the blockchain ecosystem.
Led by CEO and Founder Ismael Hishon-Rezaizadeh, Lagrange Labs is the creator and distributor of a new zero-knowledge coprocessing protocol that enables verifiable computations at big data scale across various blockchains. Its approach involves a decentralized network of nodes that execute computations off-chain and generate ZK proofs of the results to submit on-chain, in a hyper-parallel manner, thereby unlocking significant efficiency and cost gains. It opens the door for innovations in cross-chain interoperability and applications requiring complex computations over big data.
The announcement followed a recent step for Lagrange, including partnerships with EigenLayer, Base, Frax Finance, Mantle Network, Omni Network and AltLayer, as well as the launch of its first ZK coprocessor testnet, “Euclid.”
Commenting on the news, Ismael Hishon-Rezaizadeh said: “With our approach to ZK Coprocessing, we can unlock new use cases that require handling of big datasets, such as on-chain liquidity or pricing calculations or even running AI/ML models, all secured by restaking with our integration with EigenLayer.”
FinSMEs
09/05/2024