Taiko Raises an Additional $15 Million in Series A Round

Taiko's Layer-2 Solution Secures $15 Million in Latest Funding Round Led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital.

Azcnews Breakin1g (1)

In its recent Series A funding round, Taiko successfully raised an additional $15 million.

The deal was led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital. Additionally, Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, and WW Ventures also participated in the funding round.

In total, Taiko has raised $37 million across three funding rounds since its inception. However, it’s currently unclear when Taiko initiated fundraising for the Series A round, and project co-founder Terence Lam declined to comment on the company’s structure and valuation.

Funding Round For Taiko

How Taiko Plans to Utilize and Their Investment and Future Plans

The new investment will be used by the company to develop its product and expand its team in the future. Furthermore, Taiko has disclosed plans to establish an ecosystem development fund. Last December, Taiko announced its intention to allocate approximately $30 million for its second funding round.

Taiko is a zkEVM solution for Ethereum, serving as a layer-2 data transaction verification utilizing zero-knowledge proof technology while also being inherently compatible with the Ethereum Virtual Machine (EVM).

Positioning itself as a “Type 1” zkEVM, as defined by Vitalik Buterin, means it’s the most compatible solution with the EVM, facilitating easier scalability for the Ethereum layer-1. Unlike other layer-2 solutions that typically have their own sequencer network for rollup, Taiko directly relies on Ethereum’s verification infrastructure to organize transactions and blocks, inheriting absolute security and censorship resistance.

Related: Ethereum May Raise Gas Fee Limit to 33%

Taiko deployed the Katla testnet earlier this year, which is considered a significant milestone before the project transitions to the mainnet, scheduled for the end of this quarter. As of now, the project claims to have over 1.1 million wallets and 13 million transactions on Katla.

The layer-2 landscape is becoming increasingly competitive. According to L2Beat statistics, there are currently 44 active layer-2 projects contributing to a $33.14 billion TVL, not including the 34 upcoming solutions in the same segment. Some notable zkEVM projects in the cryptocurrency market include zkSync, Polygon zkEVM, Scroll, StarkNet, among others.


(17 votes)
  1. Avatar of Ashar Iqbal
    Ashar Iqbal

    Hey anyone who has the knowledge about online business please let me know

    • Avatar of John Aries Paralejas
      John Aries Paralejas

      Dm me

    • Avatar of Adeleke jamiu
      Adeleke jamiu

      Which one I’m professional Shopify store development

    • Avatar of Sani Lukman
      Sani Lukman

      U are gonna be swindle.Be careful

    • Avatar of

      Hello, are you looking for ways to earn rewards during the crypto bull run? Look no further! 🫷
      Join this group that is focused on how you can maximize your earnings through airdrops, mining, and trading Crypto and Fx. We’ve got the latest information on the best opportunities, and our community is full of knowledgeable and supportive individuals who are ready to help you succeed. So, don’t miss out! Join us now to start earning!💰👇


  2. Avatar of

  3. Avatar of Djamel BOUKERZAZA


  4. Avatar of Ko Kyaw
    Ko Kyaw

    I love it 😻

  5. Avatar of Egukobe othuke ezekiel
    Egukobe othuke ezekiel

    Absolutely wonderful let’s keep moving to the future generations

  6. Avatar of Favour89

    Excellent job

  7. Avatar of Medico

    If you miss dop, dym, Dmail, zetachain, Send dm on WhatsApp for more airdrops including taiko, sherdum, eesee, grass Protocol, and more do not miss

Leave a Reply

Your email address will not be published. Required fields are marked *


What Is Cosmos Atom Information About Atom Token

Altcoin | Editor Choice | News | Research

What is Cosmos ATOM? Information about ATOM Token

What is Cosmos (ATOM)? Learn about the operating mechanism and outstanding features of Cosmos along with detailed information about the tokenomics of ATOM Token!

Important Update About Dogs Airdrop On Telegram

Airdrops | Editor Choice | News

Important Update about Dogs Airdrop on Telegram

DOGS on Telegram has announced important updates about their DOGS token distribution plan and the addition of a new "check-in" feature.

Azcnews Binance Delists Multiple Trading Pairs On Platform

News | Editor Choice | Policy & Regulations

Binance Delists Multiple Trading Pairs on Platform

Binance will delist specific spot trading pairs on July 26, 2024. The AVAX/TUSD, MATIC/TUSD, and VOXEL/BTC pairs will no longer be available for trading.

Altlayer Moves Up Alt Token Unlock Schedule, Mimicking Worldcoin

News | Altcoin | Editor Choice

AltLayer Moves Up ALT Token Unlock Schedule, Mimicking Worldcoin

The AltLayer (ALT) restaking solution has announced that they will move up the token unlock schedule to the present time.

Azcnews Large Inflows Into Ether Etfs On First Day Of Trading

News | Altcoin | Editor Choice

Large Inflows into Ether ETFs on First Day of Trading

Bloomberg ETF analyst Eric Balchunas described the $625 million trading volume, excluding Grayscale's ETHE, as "healthy" and anticipated that a "significant portion" of this amount would translate into inflows.