July 12, 2024
ZAP, a protocol for distributing tokens that operates on the Ethereum Layer 2 network known as Blast, has reported a total funding of $15.1 million.This funding was accumulated through three recent rounds. In December, a seed round generated $900,000, followed by a private round last month that raised $2.1 million. Currently, an ongoing "vault sale" has brought in $12.1 million.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Lead Investor | Category |
|---|---|---|---|---|---|---|
ZAP | $12.1M | July 12, 2024 | Private Round | $15.1M | Rarestone Ventures, Sharding Capital, Cypher Capital | Layer 2 |
Both the seed and private rounds were organized as simple agreements for future tokens (SAFTs), according to Francis. He compared the vault sale to a node sale, noting that it offers purchasers a daily allocation of ZAP tokens that have not yet been launched, along with other perks like token airdrops from other projects within the ecosystem.
Francis also mentioned that the vault sale will conclude with their token generation event in the upcoming months. If all the vaults are sold out, the total funds raised could reach up to $50 million.
About ZAP
Zap Tech is a multifaceted company with various branches and applications. One branch of Zap Tech, based on the Ethereum Layer 2 network Blast, is a token distribution protocol. It offers a platform where users can complete missions to earn rewards from their favorite projects on Blast. The platform hosts various projects and provides airdrop rewards worth over $500,000.
Another branch of Zap Tech, known as Zap-Tech, specializes in lightning surge protectors for communication ports. With over 25 years of experience in designing surge protection, Zap-Tech provides a wide selection of lightning surge protection, overvoltage, and TVSS products in the industry. They offer surge protection solutions for all connector types and for any type of system.
Website: https://www.zap.tech/
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About Investor
ZAP raised $15 million led by Rarestone Ventures, Sharding Capital, Cypher Capital with participation from Auros, Ivan Liljeqvist, Larry Cermak, Alex Kruger, Presto Labs, Luca Netz, EllioTrades, RookieXBT, Mayne, Dennis Liu, Bagsy, cuban, Chelsea Jiang, and others.
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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