Kakarot zkEVM Secures Investment to Further Zero-Knowledge EVM Development
In Brief
On this exciting day, Kakarot zkEVM has proudly revealed that it has finalized a successful second funding round, spearheaded by Stake Capital along with LongHash Ventures.
Kakarot zkEVM has announced the successful completion of its latest funding round, attracting big investments. Stake Capital Group and LongHash Ventures which was led by key investors. The capital raised will be strategically utilized to expand the team and accelerate the advancement of Ethereum scaling innovations.
Other notable contributors to this funding round include Eterna Capital, Fenbushi Capital, OKX Ventures, Foresight Ventures, among several others.
Kakarot's versions of the Ethereum Virtual Machine are developed using Cairo, allowing teams to create and deploy applications compatible with the EVM. Developers are able to utilize Solidity or any other suitable EVM language on Kakarot, akin to the process on Ethereum or Polygon. Consequently, users can engage with the DApps through familiar tools like Little Fox Wallet, Wallet Connect, and others.
Looking ahead, Kakarot envisions fostering interoperability with native Starknet protocols and enhancing the composability among various protocols. This vision includes exciting possibilities like linking Total Value Locked (TVL) within DeFi to the user base of GameFi.
In a post on X (formerly Twitter), the team emphasized their ongoing commitment to an open-source philosophy and community-centric growth. Previously, they successfully wrapped up their Pre-Seed funding round back in June 2023, with contributions from Vitalik Buterin , StarkWare and others.
Kakarot is gearing up for the next level, operating at full capacity!
— Kakarot zkEVM (@KakarotZkEvm) November 14, 2023
KKRT Labs is thrilled to share the completion of its second round of funding! 🥕
The primary aim of this investment is to expand our team and hasten the development of our Ethereum scaling solutions! 🧵👇 pic.twitter.com/9XjuK15fFG
The Rise of Zero-Knowledge Solutions in Investment Growth
In the swiftly changing landscape of blockchain and cryptocurrency, cutting-edge innovations like Zero-Knowledge scaling solutions are rising.
Recently, Stackr, an emerging Ethereum scaling startup, successfully raised $5.5 million in seed funding from distinguished investors like a16z CSS and Archetype. This initiative focuses on constructing Ethereum scaling infrastructure aimed at app-specific rollups, enabling developers to deploy scalable web3 applications using traditional web2 programming languages.
Another significant advancement in the Zero-Knowledge technology sector was Ingonyama's successful $20 million funding round, seed funding round led by Walden Catalyst with investment from Samsung Next. The company is innovating towards creating a programmable parallel computing processor that will enhance Zero-Knowledge proofs and full homomorphic encryption, pushing the boundaries of advanced cryptographic methods.
The momentum behind Zero-Knowledge solutions shows no signs of slowing down, as investors increasingly acknowledge their transformative potential, eagerly supporting ongoing advancements.
, please keep in mind that the information shared on this page should not be construed as legal, tax, investment, financial, or any other type of advice. It's crucial to invest only what you can afford to lose, and to seek independent financial counsel if in doubt. For further insights, we recommend checking the terms, conditions, as well as the help and support sections provided by the issuer or advertiser. MetaversePost strives for precise and unbiased reporting, though market conditions may change without prior notice.
Disclaimer
In line with the Trust Project guidelines Alisa, a dedicated journalist at Cryptocurrencylistings, has carved out a niche in cryptocurrency, zero-knowledge proofs, investments, and the vast world of Web3. With a sharp eye for emerging trends and technologies, she offers in-depth coverage that informs and engages readers within the rapidly changing realm of digital finance.
