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Andreessen Horowitz Leads $50M Funding Round for Matter Labs

Matter Labs, the firm behind Ethereum Layer 2 scaling protocol zkSync has raised $50 million in a Series B funding round led by Andreessen Horowitz (a16z), the company said Monday.The funding will be used to finance Matter Labs’ business growth, including expanding scientific and engineering teams.Other investors in the round included Placeholder, Dragonfly and 1kx, who also participated in the $6 million Series A funding round that closed in February.Blockchain.com, Crypto.com, Consensys, ByBit, OKEx, Alchemy, Covalent, AAVE, Paraswap, Lido, Futureswap, Gnosis, Rarible and others also contributed to funding.Matter Labs builds zero-knowledge (ZK) proof technology on Ethereum and launched its first public ZK rollup prototype in 2019.zkSync version one is a ZK rollup for payments and has been live on the Ethereum mainnet since July 2020.Read more: A16z Leads $150M Round for NFT Game Platform Mythical Games at $1.25B Valuation

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