{"id":52519,"date":"2021-11-08T18:35:40","date_gmt":"2021-11-08T16:35:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52519"},"modified":"2025-09-03T10:39:03","modified_gmt":"2025-09-03T07:39:03","slug":"zksync-developers-raise-50m-in-series-b-led-by-a16z","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/zksync-developers-raise-50m-in-series-b-led-by-a16z\/","title":{"rendered":"zkSync developers raise $50m in Series B led by a16z"},"content":{"rendered":"<p>Matter Labs, the startup behind zkSync, a Layer-2 solution built on zkRollup technology, closed a $50 million Series B funding round. It was led by a16z.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ <a href=\"https:\/\/twitter.com\/the_matter_labs?ref_src=twsrc%5Etfw\">@the_matter_labs<\/a> is excited to announce $50M in new funding for <a href=\"https:\/\/twitter.com\/zksync?ref_src=twsrc%5Etfw\">@zksync<\/a>!<a href=\"https:\/\/t.co\/7qwGTx4Dh8\">https:\/\/t.co\/7qwGTx4Dh8<\/a><\/p>\n<p>\u2014 zkSync | We\u2019re hiring! (@zksync) <a href=\"https:\/\/twitter.com\/zksync\/status\/1457680594880634881?ref_src=twsrc%5Etfw\">November 8, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Round participants included Blockchain.com, Crypto.com, ConsenSys, Bybit, OKEx, Alchemy, Covalent.<\/p>\n<p>Funding was also provided by founders and top executives of AAVE, Paraswap, Lido, Futureswap, Gnosis, Rarible, Aragon, Liquity, Celer, Connext, Perpetual, Euler, Opium, as well as former investors Placeholder, Dragonfly and 1kx.<\/p>\n<p>The main purpose of zkSync is to transfer ERC-20 tokens. ZK-Rollup is a hybrid scaling approach that connects first- and second-layer networks via smart contracts, as well as zero-knowledge proof-based solutions.<\/p>\n<p>The second version of the protocol will support Ethereum Virtual Machine-compatible and composable smart contracts. Testing on the testnet is ready for more than 150 projects across such areas as <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-decentralised-finance-defi\">DeFi<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-nfts\">NFT<\/a>, <span data-descr=\"decentralized autonomous organization\" class=\"old_tooltip\">DAO<\/span>, gaming, exchanges, software development, blockchain analytics, wallets.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;ZkSync [v2] will speed up Ethereum transactions and reduce gas fees relative to the mainnet,&#8221;<\/em> said Dan Boneh, professor of computer science at Stanford.<\/p>\n<\/blockquote>\n<p>The funds will be used to expand the scientific and engineering teams and to finance its growth.<\/p>\n<p>As noted earlier, in June 2020 Matter Labs launched a beta version of zkSync on the Ethereum blockchain with a throughput of 2000 TPS and an average fee of $0.01.<\/p>\n<p>In March 2021 Matter Labs <a href=\"https:\/\/u1f987.com\/en\/news\/union-square-ventures-backs-ethereum-layer-2-solution-zksync\">closed<\/a> a Series A funding round.<\/p>\n<p>In August, the Polygon project <a href=\"https:\/\/u1f987.com\/en\/news\/polygon-acquires-hermez-network-in-250-million-deal\">acquired<\/a> the Hermez Network platform, a provider of ZK-Rollups-based scaling solutions.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Matter Labs, behind zkSync Layer-2 on zkRollup technology, closed a $50 million Series B led by a16z. Participating investors included Blockchain.com, Crypto.com, ConsenSys, Bybit, OKEx, Alchemy, Covalent, and founders and top executives of AAVE, Paraswap, Lido, Futureswap, Gnosis, Rarible, Aragon, Liquity, Celer, Connext, Perpetual, Euler, Opium, as well as Placeholder, Dragonfly and 1kx. The funds will be used to expand the R&#038;D and growth. In June 2020 Matter Labs launched a beta version of zkSync on Ethereum with 2000 TPS and a $0.01 average fee. In March 2021 Matter Labs closed a Series A round. In August Polygon acquired the Hermez Network.<\/p>\n","protected":false},"author":1,"featured_media":52520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Matter Labs raises $50m in Series B led by a16z for zkSync Layer-2; investors include major crypto firms as it scales zkRollup-based solutions.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1179,277,1518],"class_list":["post-52519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-layer-2-solutions","tag-scaling","tag-zksync"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"Matter Labs raises $50m in Series B led by a16z for zkSync Layer-2; investors include major crypto firms as it scales zkRollup-based solutions.","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=52519"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52519\/revisions"}],"predecessor-version":[{"id":52521,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52519\/revisions\/52521"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/52520"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=52519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=52519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=52519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}