directly relies on Ethereum’s verification infrastructure to organize transactions and blocks, inher
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Home > News
Published: 03/03/2024
-
Author: Kane
Taiko Raises an Additional $15 Million in Series A Round
Taiko's Layer-2 Solution Secures $15 Million in Latest Funding Round Led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital.
Azcnews Breakin1g (1)
In its recent Series A funding round, Taiko successfully raised an additional $15 million.
We're excited to announce that Taiko Labs, the core development team behind the Taiko protocol, has raised $37M in total capital across three rounds!
1/ pic.twitter.com/1F6gD6l3Bh
— Taiko 🥁 (@taikoxyz) March 2, 2024
The deal was led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital. Additionally, Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, and WW Ventures also participated in the funding round.
In total, Taiko has raised $37 million across three funding rounds since its inception. However, it’s currently unclear when Taiko initiated fundraising for the Series A round, and project co-founder Terence Lam declined to comment on the company’s structure and valuation.
Funding Round For Taiko
How Taiko Plans to Utilize and Their Investment and Future Plans
The new investment will be used by the company to develop its product and expand its team in the future. Furthermore, Taiko has disclosed plans to establish an ecosystem development fund. Last December, Taiko announced its intention to allocate approximately $30 million for its second funding round.
Taiko is a zkEVM solution for Ethereum, serving as a layer-2 data transaction verification utilizing zero-knowledge proof technology while also being inherently compatible with the Ethereum Virtual Machine (EVM).
Positioning itself as a “Type 1” zkEVM, as defined by Vitalik Buterin, means it’s the most compatible solution with the EVM, facilitating easier scalability for the Ethereum layer-1. Unlike other layer-2 solutions that typically have their own sequencer network for rollup, Taiko directly relies on Ethereum’s verification infrastructure to organize transactions and blocks, inheriting absolute security and censorship resistance.
Related: Ethereum May Raise Gas Fee Limit to 33%
Taiko deployed the Katla testnet earlier this year, which is considered a significant milestone before the project transitions to the mainnet, scheduled for the end of this quarter. As of now, the project claims to have over 1.1 million wallets and 13 million transactions on Katla.
The layer-2 landscape is becoming increasingly competitive. According to L2Beat statistics, there are currently 44 active layer-2 projects contributing to a $33.14 billion TVL, not including the 34 upcoming solutions in the same segment. Some notable zkEVM projects in the cryptocurrency market include zkSync, Polygon zkEVM, Scroll, StarkNet, among others.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Read Less
#Taiko
4.4/5
(5 votes)
Avatar of Ashar Iqbal
Ashar Iqbal
03/03/2024 at 1:21 pm
Hey anyone who has the knowledge about online business please let me know
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John Aries Paralejas
03/03/2024 at 3:56 pm
Dm me
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03/03/2024 at 3:38 pm
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BNB Coin BNB
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SOL Coin SOL
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-0.95%
USDC Coin USDC
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ADA Coin ADA
-1.20%
DOGE Coin DOGE
1.43%
AVAX Coin AVAX
0.40%
BTC Coin BTC
0.96%
ETH Coin ETH
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USDT Coin USDT
-0.06%
BNB Coin BNB
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SOL Coin SOL
1.36%
XRP Coin XRP
-0.95%
USDC Coin USDC
0.01%
ADA Coin ADA
-1.20%
DOGE Coin DOGE
1.43%
AVAX Coin AVAX
0.40%
Search...
Home > News
Published: 03/03/2024
-
Author: Kane
Taiko Raises an Additional $15 Million in Series A Round
Taiko's Layer-2 Solution Secures $15 Million in Latest Funding Round Led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital.
Azcnews Breakin1g (1)
In its recent Series A funding round, Taiko successfully raised an additional $15 million.
We're excited to announce that Taiko Labs, the core development team behind the Taiko protocol, has raised $37M in total capital across three rounds!
1/ pic.twitter.com/1F6gD6l3Bh
— Taiko 🥁 (@taikoxyz) March 2, 2024
The deal was led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital. Additionally, Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, and WW Ventures also participated in the funding round.
In total, Taiko has raised $37 million across three funding rounds since its inception. However, it’s currently unclear when Taiko initiated fundraising for the Series A round, and project co-founder Terence Lam declined to comment on the company’s structure and valuation.
Funding Round For Taiko
How Taiko Plans to Utilize and Their Investment and Future Plans
The new investment will be used by the company to develop its product and expand its team in the future. Furthermore, Taiko has disclosed plans to establish an ecosystem development fund. Last December, Taiko announced its intention to allocate approximately $30 million for its second funding round.
Taiko is a zkEVM solution for Ethereum, serving as a layer-2 data transaction verification utilizing zero-knowledge proof technology while also being inherently compatible with the Ethereum Virtual Machine (EVM).
Positioning itself as a “Type 1” zkEVM, as defined by Vitalik Buterin, means it’s the most compatible solution with the EVM, facilitating easier scalability for the Ethereum layer-1. Unlike other layer-2 solutions that typically have their own sequencer network for rollup, Taiko directly relies on Ethereum’s verification infrastructure to organize transactions and blocks, inheriting absolute security and censorship resistance.
Related: Ethereum May Raise Gas Fee Limit to 33%
Taiko deployed the Katla testnet earlier this year, which is considered a significant milestone before the project transitions to the mainnet, scheduled for the end of this quarter. As of now, the project claims to have over 1.1 million wallets and 13 million transactions on Katla.
The layer-2 landscape is becoming increasingly competitive. According to L2Beat statistics, there are currently 44 active layer-2 projects contributing to a $33.14 billion TVL, not including the 34 upcoming solutions in the same segment. Some notable zkEVM projects in the cryptocurrency market include zkSync, Polygon zkEVM, Scroll, StarkNet, among others.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Read Less
#Taiko
4.4/5
(5 votes)
Avatar of Ashar Iqbal
Ashar Iqbal
03/03/2024 at 1:21 pm
Hey anyone who has the knowledge about online business please let me know
Like Reply Share
Avatar of John Aries Paralejas
John Aries Paralejas
03/03/2024 at 3:56 pm
Dm me
Like Reply Share
Avatar of
Anonymous
03/03/2024 at 3:38 pm
？
Like Reply Share
Leave a Reply
Your email address will not be published. Required fields are marked *
Comment *
Twitter
Telegram
Name
Save my name, email, and website in this browser for the next time I comment.
LATEST
Azcnews Breaking (3)
News | Bitcoin | Editor Choice 03/03/2024
Bitcoin Market Shows Over 20% Gap in Supply and Demand Dynamics
Current research reveals a 20% disparity in the Bitcoin market's supply and demand dynamics.
Memecoin
Altcoin | Editor Choice 02/03/2024
Memecoins Have Been Leading The Market For Several Days
Many major memecoins like Pepe or Bonk have consistently been on the top gainers list for the past few days.
Azcnews Breaki1ng
News | Altcoin | Editor Choice 02/03/2024
SynFutures Launches V3 on Layer-2 Blast
SynFutures decentralized derivatives exchange has just announced the deployment of version 3 on the layer-2 Blast, along with the unveiling of its rewards program and token launch plans.
Azcnews Breaking (32)
News | Altcoin | Editor Choice 01/03/2024
Blast Releases Mainnet, Expected Airdrop Redemption Schedule
Blast announces mainnet launch, also opens access for users to withdraw locked ETH from late November last year.
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News | Bitcoin | Editor Choice | Policy & Regulations 01/03/2024
Cryptocurrency Exchanges in Korea Surge Amidst Bitcoin Rally
Amidst the surging momentum of Bitcoin, local cryptocurrency exchanges are witnessing a notable surge in returns.
Top views
1
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2
Memecoins Have Been Leading The Market For Several Days
3
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4
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What is Portal? Information about PORTAL Token?
6
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8
XRP Whales Shift 62 Million Tokens in Price Rally
9
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Vitalik Proposes Open-Source Fix for Elon Musk’s Dilemma
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