Home » Taiko raises $37 million in Series A funding from top-tier VCs

Taiko raises $37 million in Series A funding from top-tier VCs

By Startup Funding News
Taiko raises $37 million in Series A funding from top-tier VCs

Taiko, an Ethereum Layer 2 scaling solution provider, announced the close of commitments for a US$15 million Series A funding round.

Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital led the investment round with participation from other notable participating investors, including Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, WW Ventures, and more. 

The close of its most recent round brings Taiko’s total capital raised to US$37 million across three funding rounds. The closing of its Series A round comes just ahead of Taiko’s highly-anticipated mainnet launch. 

Taiko is an Ethereum-equivalent ZK-Rollup, scaling Ethereum by supporting all EVM opcodes in a Layer 2 architecture that is decentralized, permissionless, and secure. Since its founding in 2022, Taiko has successfully executed six testnets involving over 1,100,000+ unique wallets, 30,000+ proposers, and 14,000+ provers. There are over 100 live apps in the Taiko ecosystem today, supported by a vibrant community of 850,000+ members on Discord.

Quote from Taiko Co-Founders:

“Building the first Ethereum-equivalent-based rollup is something we knew was going to be a multi-year adventure,” said Daniel Wang, Taiko’s Co-Founder and CEO. “Now, as we approach the mainnet launch, we realize what a ride it has been. We’re determined to ship our products as soon as they’re ready and show the industry that what had been thought of as impossible, is indeed possible.”

“Our commitment to scale Ethereum in the most native way possible is something investors and partners have been very keen to support,” said Taiko’s Co-Founder and COO Terence Lam. “We want to thank everyone who shares our vision and continues to support us in our journey to bring Ethereum to the world.”

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