Lumoz Raises $6 Million to Scale Zero-Knowledge Blockchain Solutions

Lumoz, a company building a zero-knowledge Rollup-as-a-Service (zk-RaaS) platform, has raised $6 million in a pre-Series A funding round led by OKX Ventures, with participation from HashKey Capital, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, Kernel Ventures, and Polygon co-founder Sandeep Nailwal as an angel investor. The platform enables blockchains to scale using zk-proofs and is compatible with leading zk-proof-based solutions such as Polygon CDK, zkSync, Scroll, and Starknet.

Lumoz Secures $6 Million Pre-Series A Funding for Zero-Knowledge Scalability Platform

Singapore, May 8, 2023 - Lumoz, a pioneering provider of zero-knowledge Rollup-as-a-Service (zk-RaaS) solutions, has announced the successful completion of a $6 million pre-Series A funding round to accelerate its mission of empowering blockchains with zk-proof-based scalability.

The investment was led by a consortium of prominent venture capital firms, including OKX Ventures, HashKey Capital, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, and Kernel Ventures. Additionally, Polygon co-founder Sandeep Nailwal joined the round as an angel investor, recognizing the transformative potential of Lumoz's technology.

This latest funding comes on the heels of Lumoz's $4 million seed round in April 2023, signaling the growing recognition and support for its innovative zk-RaaS platform. The pre-Series A round was structured as a simple agreement for future equity (SAFE) with token warrants, valuing the company at $120 million.

Empowering Blockchains with Zero-Knowledge Rollups

Lumoz's zk-RaaS platform enables blockchains to seamlessly integrate zero-knowledge (ZK) rollups, a highly effective scaling solution that enhances security and efficiency for Web3 applications. By leveraging ZK rollups, dApps can process a significantly higher number of transactions off-chain while maintaining their security and validity on the underlying blockchain.

The platform has already successfully onboarded layer-2 projects ZKFair and Merlin Chain, demonstrating its versatility in supporting various layer-1 blockchains. Notably, Lumoz is also compatible with leading zk-proof-based scaling solutions, including Polygon CDK, zkSync, Scroll, and Starknet.

"Our focus is on providing blockchain companies with a comprehensive solution for building zk-rollups," said Jeffrey Yang, co-founder of Lumoz. "We offer not only the ZK-RaaS platform but also a modular compute layer that addresses the substantial computing costs associated with ZKP computation."

Token Launch and Mainnet Launch on Horizon

The pre-Series A funding will play a pivotal role in Lumoz's ambitious roadmap. The company plans to dedicate the fresh capital to bolstering its team, with a focus on expanding its engineering and business development capabilities.

Furthermore, Lumoz is targeting July 2023 for the launch of its mainnet, a crucial milestone in its mission to revolutionize blockchain scalability. The company will also conduct a token launch in August 2023, providing a valuable opportunity for the community to participate in its growth journey.

"We are excited about the tremendous support we have received from our investors and the strategic alignment it brings to our vision," Yang added. "This funding will enable us to accelerate our product development, expand our team, and prepare for the launch of our mainnet and token."

Lumoz's unwavering commitment to innovation and its proven ability to deliver transformative solutions position the company as a leader in the burgeoning field of zk-based scalability. As the demand for efficient and scalable Web3 solutions continues to surge, Lumoz is poised to play a pivotal role in shaping the future of blockchain technology.

About Lumoz

Lumoz is a groundbreaking zero-knowledge Rollup-as-a-Service (zk-RaaS) provider. Its mission is to empower blockchains with zk-proof-based scalability, enabling dApps to process a significantly higher number of transactions while maintaining security and validity. The company's platform is compatible with various layer-1 blockchains and leading zk-proof-based scaling solutions. For more information, visit https://lumoz.tech/.

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