News Report Technology
November 14, 2023

Kakarot zkEVM Raises Funding to Boost Zero-Knowledge EVM Development

Kakarot zkEVM Raises Funding to Boost Zero-Knowledge EVM Development

Kakarot zkEVM today announced it has successfully completed its second round of financing, with Stake Capital Group and LongHash Ventures leading the investment. The funds raised will be used to strengthen the team and accelerate the development of Ethereum scaling solutions.

Among the other participating parties in the investment were Eterna Capital, Fenbushi Capital, OKX Ventures, Foresight Ventures, and others.

Kakarot ‘s Ethereum Virtual Machine implementations are written in Cairo and its platform enables teams to build and deploy EVM applications. Developers can deploy Solidity or any EVM-compatible language on Kakarot, similar to the process on Ethereum or Polygon. Subsequently, end users can interact with the DApp through their usual  toolchain, such as Little Fox Wallet, Wallet Connect, and others.

In the long run, Kakarot aims to offer interoperability with native Starknet protocols and facilitate composability between protocols. This includes scenarios like combining Total Value Locked (TVL) in DeFi with the user base in GameFi.

In a X (Twitter) post, the team highlighted its continuous commitment to the philosophy of open sourcing and prioritizing the community throughout this growth. Previously, the team had concluded the Pre-Seed round of financing in June 2023, with participation from Vitalik Buterin, StarkWare and others.

Zero-Knowledge Solutions Witness Growth in Investments 

In the rapidly evolving landscape of blockchain and cryptocurrency, emerging technologies such as Zero-Knowledge scaling solutions are rising.

Recently, Stackr — an Ethereum scaling startup, secured $5.5 million in seed funding from notable investors such as a16z CSS and Archetype. The project is aimed at developing Ethereum scaling infrastructure focused on app-specific rollups to help developers launch scalable web3 applications using web2 programming languages. 

Another noteworthy recent development in the realm of Zero-Knowledge technologies was the successful $20 million seed funding round of semiconductor company Ingonyama, led by Walden Catalyst with participation from Samsung Next.
The company aims to develop a programmable parallel computing processor to accelerate Zero-Knowledge proofs and fully homomorphic encryption, pushing the boundaries of advanced cryptography.

Zero-Knowledge’s momentum indicates no signs of abating, as investors increasingly recognizing its transformative potential and actively supporting current developments.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

More articles
Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

Hot Stories
Join Our Newsletter.
Latest News

AI in Crypto

Explore the ever-evolving realm of artificial intelligence within the cryptocurrency sphere. Discover the transformative impact of AI ...

Know More

Exploring Blockchain Gaming: Recap of 2023 and Sneak Peek into 2024

Footprint Analytics' report analyzes the performance data of blockchain gaming in 2023 and discusses potential trends for ...

Know More
Join Our Innovative Tech Community
Read More
Read more
UK National Crime Agency Arrests LockBit Cybercrime Network Hackers, Plans to Assist Victims
News Report Technology
UK National Crime Agency Arrests LockBit Cybercrime Network Hackers, Plans to Assist Victims
February 20, 2024
Meso Raises $9.5M in Funding led by Solana Ventures to Expand Crypto Payment Platform
Business News Report
Meso Raises $9.5M in Funding led by Solana Ventures to Expand Crypto Payment Platform
February 20, 2024
Inspect Collaborates with Avalanche to Launch Rewards System for Nurturing Ecosystem Loyalty
Markets News Report
Inspect Collaborates with Avalanche to Launch Rewards System for Nurturing Ecosystem Loyalty
February 20, 2024
Cometh Studio Launches Web3 Trading Card Game Cosmik Battle on Epic Games Store
Business News Report
Cometh Studio Launches Web3 Trading Card Game Cosmik Battle on Epic Games Store
February 20, 2024
What You
Need to Know

Subscribe To Our Newsletter.
Daily search marketing tidbits for savvy pros.