June 10, 2024
Nexus Laboratories, a virtual machine that mimics a physical computer, is on a mission to enhance trust in the internet. It’s placing its bets on a type of cryptography known as “zero-knowledge proofs” or zk-proofs. These proofs allow one party to confirm the truth of a data piece to another without revealing the data itself. Think of it like a driver’s license scanner that confirms someone is of legal age without sharing their personal details. Nexus sees the potential in zk-proofs and aims to make them available to all developers.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
Nexus Laboratories | $25M | June 10, 2024 | Series A | $27.2M | Lightspeed | Roll ups |
On Monday, Nexus made progress towards this goal by announcing a Series A funding round that raised $25 million. The round was jointly led by Lightspeed Venture Partners and Pantera Capital, with participation from Faction Ventures, Dragonfly Capital, and Blockchain Builders Fund. This brings Nexus’s total funding to $27.2 million.
Daniel Marin, Nexus’s founder and CEO, envisions a new era for the internet where data and computations are safeguarded by proofs. Currently, Nexus is concentrating on rollups, a type of Layer 2 blockchain constructed on top of a primary, Layer 1 network like Ethereum. Rollups are engineered to enhance the scalability of the underlying network by grouping transactions together and sending them as a single transaction to the main blockchain.
About Nexus Laboratories
Nexus Laboratories, Inc. is a virtual machine. A software that emulates a physical computer, with a mission to enhance trust in the internet. It’s investing in a type of cryptography known as “zero-knowledge proofs” or zk-proofs, which allow one party to prove to another that a piece of data is true, without revealing the underlying data. Nexus believes in the power of zk-proofs and aims to make them accessible to all developers.
Nexus is currently focused on rollups, a type of Layer 2 blockchain built atop a main Layer 1 network, like Ethereum. Rollups are designed to help the underlying network scale by batching transactions together and sending them to the main blockchain in a single transaction.
Website: https://nexus.xyz/
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About Investor
Investor: Lightspeed
Lightspeed Venture Partners is a venture capital firm that operates at multiple stages and is dedicated to propelling disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past 20 years, the Lightspeed team has supported hundreds of entrepreneurs and has contributed to the creation of over 500 companies worldwide, including notable names like Affirm, Carta, Cato Networks, Epic Games, Faire, Forty-Seven, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, Udaan, Ultima Genomics, and others. Currently, Lightspeed and its international team manage $25B in assets under management (AUM) across the Lightspeed platform, with investment experts and advisors located in the U.S., Europe, India, Israel, and Southeast Asia.
Location: United States
Website: https://lsvp.com/
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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