Lumoz Successfully Concludes Strategic Round - Registration of Decentralized Nodes Will be Opened

29 May 2024

After a 3-month interval following the Pre-Series A funding, Lumoz receives another good news!

On May 29th, Lumoz, the modular compute layer and ZK-RaaS platform, officially announced the completion of a new strategic funding round. Participating investors include IDG Blockchain, Blockchain Coinvestors, Gate Ventures, Summer Capital, EVG, SevenUpDAO, Sweep Ventures, among others. The specific amount of funding has not been disclosed.

Prior to this, in March 2024, Lumoz raised a Pre-Series A funding round with a valuation of $120 million. Participating institutions included Hashkey Capital, OKX Venture, Kucoin Ventures, Polygon, Comma3, Waterdrip, YBB, Kernel Ventures, D11-Labs, MH Ventures, Kronos Research and Fermion Capital.

The Lumoz team revealed that the new funds will be used to further expand the Lumoz team, develop the modular computing power layer, and advance the construction and technological innovation of the ZK-RaaS platform.

"After the announcement of the previous funding round, many venture capitalists eagerly approached Lumoz, prompting us to initiate another strategic funding round within a short timeframe. In this round, we have once again attracted a group of exceptional investors and partners who have full confidence in Lumoz's vision, products, and team. They are enthusiastic about providing multi-faceted support, including funding, expertise, and resources, which will undoubtedly have a positive impact on Lumoz's future," Lumoz CEO & Co-founder Nanfeng said.

Over the past six months, Lumoz has entered a new phase of development. The successful launch of the ETH Layer 2 network, ZKFair, and the BTC Layer 2 network, Merlin Chain, has made Lumoz's "one-click chain deployment" a focal point of market attention. Currently, Lumoz is receiving an increasing number of customer demands, and it is anticipated that dozens of ZK-Rollups will be generated through Lumoz's RaaS platform and supported by its underlying computing power in the latter half of this year.

For a ZK-Rollup, the computational cost of ZKP far exceeds that of data availability (DA), even accounting for more than 50% of the total cost. Therefore, the computational gap in this area and the immense market potential are significant.

In response, Lumoz has taken the lead in introducing the Modular Compute Layer, which effectively utilizes idle computing power in the market to provide modularized computing support for ZK-Rollups.

In terms of implementation, Lumoz's unique ZK-PoW algorithm efficiently combines miners' computational resources with various Rollups, enabling the provision of distributed computing power for various ZK-Rollups and the generation of ZKPs. At the same time, Lumoz continues to make continuous improvements in ZKP computation and submission.

Recently, Lumoz introduced support for Op Stack + ZK Fraud Proof, pioneering a new mode for L2 architecture. Following this, they launched zkProver and zkVerifier based on EigenLayer, significantly enhancing computational and verification efficiency. These advancements ensure the security and profitability of the entire process.

The latest roadmap reveals that Lumoz will soon release a new AI + PoW Chain, multiple ETH Layer 2 chains, Layer 3 chains, and BTC Layer 2 chains. Additionally, Lumoz will open the decentralized node registration globally to ensure network security after the Mainnet launch. Stay tuned for more updates!