Matter Labs, the parent company of the Ethereum scaling protocol, zkSync has raised $200 million in Series C funding. According to a press release, the investment was led and managed by Blockchain Capital and Dragonfly. Variant, LightSpeed Venture Partners and Andreessen Horowitz also participated in the round. Matter


Matter Labs, the parent company of the Ethereum scaling protocol, zkSync has received a $200 million Series C round in funding.

According to a release from Blockchain Capital and Dragonfly the investment was led by Variant and LightSpeed Venture Partners. Variant and Andreessen Horowitz were also involved in the participation. They had previously led the $50 Million Series B round. Matter Labs did not disclose the price tag.

The Series C round raised money to fund first-party projects by Matter Labs, expand the team, and finance projects by other parties. It will also be used to launch Matter University, which will be its user and builder onboarding platform and education platform.

This raise is due to the continued negative impact of FTX/Alameda on cryptocurrency markets, creating a period in market uncertainty.

Matter Labs now has $458 million in total funding. Matter Labs claims that this latest round of fundraising will give it enough runway to ensure that cash flow won’t be a problem. It focuses on creating its ecosystem, producing new, early-stage products, and ensuring that it has sufficient runway to do so.

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