New York, NY/ London, UK/ Singapore - Taiko Labs, a provider of Ethereum Layer 2 scaling solutions, has raised $15 million in a Series A funding round led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital.
Other notable investors include Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, and WW Ventures.
The latest round of funding brings Taiko Labs' total capital raised to $37 million.
The company plans to use the funds to support the upcoming launch of its mainnet solution.
Taiko's core focus is an Ethereum equivalent ZK rollup designed to significantly improve Ethereum scaling through a decentralized, permissionless, and secure layer 2 architecture.
Taiko Labs has built a strong community of over 850,000 members and has successfully deployed six testnets with hundreds of thousands of community members participating.
"Amidst an explosion of new rollups, Taiko stands out for its passionate community coupled with a sequence-based architecture that uniquely simplifies the L2 value chain, streamlining trust assumptions and removing friction for developer adoption,"
said Samuel Harrison, Founding Partner at Lightspeed Faction.
