[TechUkraine news] Ukrainian Matter Labs announced $50M in new funding

Founded by Ukrainian Alex Gluchowski Matter Labs, the company behind zkSync, an Ethereum Layer 2 scaling protocol, announced $50M in new funding in addition to US$6M raised at Series A in February this year.
  • The Series B financing was led by Andreessen Horowitz and included existing investors Placeholder, Dragonfly, and 1kx. A second financing was closed with strategic partners such as BlBlockchain.com, Crypto.com, Consensys, ByBit, OKEx, Alchemy, Covalent and joined by the founders and leadership of AAVE, Paraswap, Lido, Futureswap, Gnosis, Rarible, Aragon, Liquity, Celer, Connext, Perpetual, Euler, Opium, and 70 more.
  • Matter Labs intends to use the funds to expand its scientific and engineering teams and finance its business growth.
  • Matter Labs is the pioneer of Zero-Knowledge Proof technology on Ethereum. The company has launched the first-ever public ZK rollup prototype in early 2019, was the first to implement recursive ZK proofs on Ethereum, and created the world’s first practical FPGA-based hardware for ZKP acceleration in 2020.
Alex Gluchowski, Co-Founder and CEO of Matter Labs: ”It is a mission-driven project, our long-term goal is to make self-sovereign participation in the digital economy — that is, maintaining true control over one’s digital assets — affordable for anyone in the world.”