Matter Labs develops zkSync, a zero-knowledge rollup Layer 2 solution that batches transactions and posts validity proofs to Ethereum to lower gas costs and prevent transaction alteration. zkSync’s upcoming release will be compatible with the Ethereum Virtual Machine to ease decentralized app integration. Matter Labs plans to open-source zkSync 2.0 under an MIT license in Q4 2022 to increase transparency and security. Around 150 projects have integrated or are using zkSync, including Chainlink, SushiSwap, Uniswap, Aave, Argent, 1inch, Gnosis and Curve. The company raised a $200 million Series C and overall has raised $458 million to date, which includes a $200 million ecosystem fund to foster zkSync adoption. The financing is expected to let Matter Labs continue iterating on zkSync and scale its Ethereum Layer 2 work even amid uncertainty following the collapse of FTX. Matter Labs develops zkSync, a ZK rollup that uses zero-knowledge proofs to scale transactions on Ethereum. The company has built a Solidity compiler enabling developers to run native Ethereum smart contracts inside zkSync. zkSync is live on the Ethereum mainnet for transactions, and the company says mainnet support for smart contracts will arrive early next year. CEO Alex Gluchowski and supporters including Vitalik Buterin argue ZK rollups are the long-term scaling solution versus optimistic rollups. Financially, Matter Labs closed a $50 million Series B led by a16z Crypto. The round followed a Series A the company closed months earlier that was led by Union Square Ventures.

Total raised

$250M

Funding rounds

2

Latest round

Series C

Latest activity

Nov 2022