Investment Secured: $6 Million for Extending ZK-RaaS Platform by Lumoz
Laying Down the Tracks for the Future – Introducing Lumoz
In the ever-evolving landscape of tech, a fresh name has popped up – Lumoz. Formerly known as Opside, Lumoz managed to secure a whopping $6 million in pre-series funding, putting the company's valuation at a staggering $120 million!
This newfound capital, totaling $2.1 million, comes from an array of heavy hitters in the crypto world, including OKX Ventures, HashKey Capital, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, Kernel Ventures, and Sandeep Nailwal, the co-founder of Polygon. The company, currently stationed in Hong Kong and founded in March 2022, is all set to make some noise!
Lumoz is gearing up to usher in a new era of blockchain technology by providing a platform for zk-rollup technology called ZK-RaaS (Rollup-as-a-Service). Its mission? To simplify the process of deploying scalable blockchain solutions, thus ensuring efficiency and cost reductions for developers eager to launch their applications.
Following a rebrand from Opside to Lumoz in October, the project aims to put an end to any confusion surrounding its focus on rollups. Lumoz has made it crystal clear that it is dedicated to zk-rollups, offering a versatile compute layer to help developers manage the steep computing costs associated with zero-knowledge proof (ZKP) computation for zk-rollups.
If AltLayer is considered one of its closest competitors, both operating as RaaS platforms, Lumoz stands head and shoulders above the rest due to its compatibility with various types of zk-rollups, including Polygon CDK, zkSync, Scroll, and StarkNet.
As it moves forward, Lumoz has its sights set on expanding its team, upgrading its infrastructure, and focusing on engineering and business development functions. The company anticipates launching the mainnet of its compute layer in July and kicking off a token generation event in August.
Fast Facts:
- Lumoz's investors include OKX Ventures, HashKey Capital, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, Kernel Ventures, and Sandeep Nailwal (co-founder of Polygon).
- Lumoz is making a name for itself in the world of crypto by streamlining the process of deploying scalable blockchain solutions.
- The company is compatible with various types of zk-rollups, including Polygon CDK, zkSync, Scroll, and StarkNet.
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- With the recent investment of $2.1 million from crypto heavyweights like KuCoin Ventures, Lumoz is poised to launch in 2022, bringing an era of blockchain scaling solutions to the finance industry.
- Lumoz, formerly Opside, is set to establish its presence in the technology world, offering Rollup-as-a-Service (ZK-RaaS) to simplify the deployment of scalable blockchain applications, such as zkSync and StarkNet.
- The fintech startup Lumoz, valued at $120 million, is gearing up to make its mark in the crypto market, promising to revolutionize the blockchain technology landscape through its zk-rollup technology.
- As it prepares for its mainnet launch in July, Lumoz aims to build a versatile compute layer to reduce costs for developers, working alongside investors like OKX Ventures, HashKey Capital, and Kernel Ventures.
