- The participation of leading investors such as OKX Ventures, HashKey Capital, KuCoin Ventures, and others underscores Lumoz’s credibility and potential in the blockchain scaling infrastructure sector.
- These strategic investments not only provide Lumoz with necessary capital but also signal confidence in its vision and technology.
Lumoz, formerly known as Opside, has successfully raised $6 million in a pre-Series A funding round, positioning the blockchain scaling infrastructure project at a valuation of $120 million. The investment round, closed in March, attracted notable backers including OKX Ventures, HashKey Capital, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, Kernel Ventures, and Polygon co-founder Sandeep Nailwal.
The Hong Kong-based Lumoz, founded in March 2022, specializes in blockchain scaling infrastructure, particularly offering a zk-rollup as a service (ZK-RaaS) platform. This platform assists developers in launching their own application-specific zk-rollups with ease, aiming to streamline the process with a single-click solution.
According to Lumoz co-founder Jeffrey Yang, the project underwent rebranding to Lumoz last October to clarify its focus on zk-rollups, as it was initially misconstrued as working on optimistic rollups. Lumoz’s modular compute layer aims to address the significant computing costs associated with zero-knowledge proof (ZKP) computation for zk-rollups, bridging the gap by offering modular computing support.
Lumoz’s ZK-RaaS platform has already gained traction, with projects like ZKFair and Merlin Chain leveraging its capabilities. Notably, Lumoz boasts compatibility with various zk-rollup types, including Polygon CDK, zkSync, Scroll, and StarkNet, highlighting its versatility and broad applicability across Layer 1 blockchains, not limited to Ethereum.
With the recent funding infusion, Lumoz plans to bolster its team, expanding its current workforce of over 30 individuals by hiring in engineering and business development functions. Additionally, Lumoz aims to launch the mainnet of its compute layer in July, signaling a significant milestone in its development roadmap.
In anticipation of further growth and development, Lumoz has initiated a points program, allowing participants to convert accumulated points into future tokens. The token generation event is slated for August, offering stakeholders an opportunity to participate in Lumoz’s ecosystem and contribute to its continued evolution and success.
Lumoz Advances with $6 Million Funding Round
Lumoz’s successful pre-Series A funding round, securing $6 million at a valuation of $120 million, marks a significant milestone for the blockchain scaling infrastructure project. With support from prominent investors and a clear focus on zk-rollups, Lumoz is poised for expansion and innovation in the blockchain space. The upcoming launch of its mainnet and token generation event in August further underscores Lumoz’s commitment to driving advancements in decentralized technologies.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
