April 8, 2024
Lumoz, formerly known as Opside, has secured $6 million in a pre-Series A funding round, bringing the company's valuation to $120 million. This funding round was led by HashKey Capital, with additional participation from OKX Ventures, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, Kernel Ventures, and Polygon co-founder Sandeep Nailwal. The raised capital will be used to expand Lumoz's team and expedite the launch of its mainnet.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Lumoz | $6,000,000 | Apr 8, 2024 | Seed | $10,000,000 | HashKey Capital | ZK |
Founded in March 2022 and based in Hong Kong, Lumoz is a blockchain scaling infrastructure provider focusing on zk-rollup as a service (ZK-RaaS). The platform enables developers to easily launch application-specific zk-rollups. The company rebranded from Opside to Lumoz in October 2023 to clarify its focus on zk-rollups rather than optimistic rollups.
Lumoz offers a modular compute layer to support the substantial computational costs associated with zero-knowledge proof (ZKP) computation for zk-rollups. This service aims to bridge the gap between ZKP computation costs and data availability (DA) costs, making zk-rollups more accessible and cost-effective for developers. The platform is compatible with various zk-rollup types, including Polygon CDK, zkSync, Scroll, and StarkNet.
The recent funding will also support the expansion of Lumoz's current team of over 30 people, particularly in the engineering and business development areas. Lumoz plans to launch the mainnet of its compute layer in July 2024. Additionally, Lumoz has been running a points program for the past month, which allows users to convert points into future tokens. The token generation event is expected to take place in August 2024.
Lumoz's ZK-RaaS platform is already being leveraged by Layer 2 projects such as ZKFair and Merlin Chain. This demonstrates Lumoz's capability to support scaling solutions for all Layer 1 blockchains, not just Ethereum. The platform's ability to offer affordable and flexible verification mechanisms is essential for the scalability and interoperability of blockchain technology.
About Lumoz:
Lumoz, formerly known as Opside, is a blockchain scaling infrastructure provider based in Hong Kong. The company specializes in zk-rollup as a service (ZK-RaaS), allowing developers to launch application-specific zk-rollups easily. Founded in 2022, Lumoz aims to bridge the computational cost gap associated with zero-knowledge proof (ZKP) computation for zk-rollups. The platform supports various zk-rollup types and provides a modular compute layer to enhance scalability and interoperability in the blockchain ecosystem.
Website: https://lumoz.org/
X Account: @LumozOrg
X Followers today: 240,200
X Followers 30 days ago: 180,563
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About Investor
Investor: HashKey Capital
Description: HashKey Capital is a leading investment firm focused on blockchain and digital assets. With significant experience and a robust portfolio in the blockchain sector, HashKey Capital supports projects that drive innovation and adoption in the blockchain space. Their investment in Lumoz underscores their confidence in the company's potential to advance zk-rollup technology and blockchain scalability solutions.
Location: Singapore
Website: https://hashkey.capital/
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