Taiko, a company that offers Ethereum Layer 2 scalability solutions, has raised $15 million in Series A funding.
Leading the round were Token Bay Capital, Hashed, Lightspeed Faction, and Generative Ventures. Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, WW Ventures, and another investor participated as well.
With the money, the business plans to grow both its operations and its research and development.
Overseeing all EVM opcodes in a decentralized, permissionless, and secure Layer 2 architecture, Taiko is an Ethereum-equivalent ZK-Rollup, led by CEO Daniel Wang. Over 1,100,000 wallets, 30,000 proposers, and 14,000 provers have participated in six testnets since its founding in 2022.
With the help of a thriving Discord community with over 850,000 members, the Taiko ecosystem currently has over 100 live apps.
In the beginning of this year, Taiko launched Katla, its sixth testnet. With its customizable, multi-proof rollup architecture, contestation mechanism, and based sequencing, Taiko’s Based Contestable Rollup (BCR) design is being used for the first time on the Katla testnet.
Taiko will soon launch on the mainnet, with Katla as its base. The company’s next project is called Based Booster Rollup (BBR), which enables developers to grow natively across all L2s and deploy on Ethereum, thereby addressing the problem of liquidity fragmentation.