May 24, 2024
Cysic, a rising star in the zero-knowledge (ZK) hardware space, has secured $12 million in a pre-A funding round. This significant investment, led by HashKey Capital and OKX Ventures, aims to revolutionize the generation of ZK proofs, making them faster, cheaper, and more accessible.
Founded in 2022, Cysic is tackling a major challenge in the blockchain industry: the slow speed of generating ZK proofs using traditional CPUs. Their solution? Specialized hardware acceleration.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Cysic | $12m | May 24, 2024 | Pre-A | $12m | HashKey Capital & OKX Ventures | ZK |
By leveraging expertise in ASIC design and GPU engineering, Cysic aims to offer enterprise-grade ZK compute-as-a-service for various ZK projects. This essentially means providing powerful hardware solutions that significantly speed up ZK proof generation.
Investors are excited about Cysic's potential. HashKey Capital, an early backer of Cysic, is doubling down on its investment, recognizing the critical role ZK technology will play in the future of Ethereum. They believe Cysic's leadership in developing GPU and FPGA solutions, alongside their upcoming ASIC chips, positions them perfectly to become a major player in the ZK hardware space.
Cysic's focus lies on creating specialized ASICs for real-time ZK proof generation. Their innovative zkVM-based ASIC design offers two exciting products: ZK Air and ZK Pro.
ZK Air, designed for portability, boasts a compact size similar to a power bank. It connects to laptops, tablets, or even smartphones via a Type-C interface, accelerating ZK proofs on the go. ZK Pro, on the other hand, is built for raw power, resembling traditional mining rigs. Both products aim to significantly improve ZK proof generation speed.
The funding will fuel Cysic's global expansion, talent acquisition, and hardware production. This injection of capital positions them to become a key driver in the advancement of ZK technology and ultimately, a more efficient and scalable blockchain ecosystem.
About Cysic
Cysic is a blockchain company that offers zero-knowledge (ZK) hardware computation to deliver real-time ZK proof generation, a critical technology for blockchain scalability.
Website: https://cysic.xyz/
X Account: https://twitter.com/cysic_xyz
X Followers today: 55,000
X Followers 30 days ago: 8,558
X Follower change: 46,442 (+542%)
About Investors
Investor: HashKey Capital and OKX Ventures
Description:
HashKey Capital, a leading crypto fund with over $1 billion in assets under management and its investments team oversee a diversified portfolio of over 600 pioneering projects across institutional services, infrastructure, data, AI, consumer and more.
Location: Hong Kong
Website: https://hashkey.capital/
OKX Ventures, the investment arm of a global crypto exchange. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Location: Seychelles
Website: https://www.okx.com/ventures
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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