Zulu Network Closes Seed Round with Leading Investors to Integrate EVM and DePIN Layers on Bitcoin
Singapore, September twenty third, 2024 – Coinscribble by Coinbound / Zulu Community, an progressive Bitcoin layer 2 protocol that seamlessly integrates each an EVM (Ethereum Digital Machine) layer and a DePIN innovation layer, is worked up to announce the profitable closure of its seed spherical. The spherical has attracted distinguished buyers, together with Draper Dragon, Web3.com Ventures, CGV, Panony, D11 Labs and different esteemed enterprise companions.
Blockchain know-how has reworked the way in which people and organizations method decentralization, providing advantages corresponding to enhanced safety, transparency, and effectivity. Regardless of the developments in blockchain, challenges corresponding to scalability, excessive transaction charges, and restricted entry to decentralized assets stay crucial hurdles. Zulu Community goals to deal with these challenges by offering a layer 2 answer that optimizes tokenized computing energy inside a decentralized framework, using Bitcoin’s safety.
“We’re thrilled to welcome such high-caliber buyers who share our imaginative and prescient of a extra versatile and scalable Bitcoin ecosystem,” mentioned Eric Lifson, Co-Founding father of Zulu Community. “This funding will speed up our improvement efforts and assist us convey our progressive protocol to market, enabling builders and customers to expertise the true potential of Bitcoin’s layer 2 capabilities.”
The seed spherical funding might be utilized to reinforce Zulu Community’s improvement workforce, gas advertising efforts, and develop group engagement initiatives. With this funding, Zulu Community goals to refine its protocol, bolster safety measures, and facilitate smoother integration for builders and customers alike.
Draper Dragon, co-founded by famend investor Tim Draper in 2006, provides higher publicity for Zulu with their participation. Draper Dragon is a number one enterprise capital agency recognized for backing forward-thinking tasks within the cryptocurrency house with investments in Coinbase, Ledger, Gemini, CoinDCX and different distinguished tasks and corporations. For extra about Draper Dragon: https://draperdragon.com/
CGV FoF is an Asia-based Fund of Funds (FoF) that focuses on investments in Crypto Fund and Crypto Studio. CGV FoF consists of household funds from Japan, Korea, and China’s mainland and Taiwan, with headquarters in Japan and branches in Singapore and Canada. A few of their portfolio corporations embody Unisat Pockets, Bitget, Mezo, Metis, Casper Labs. For more information on CGV: https://www.cgv.fund/english
Web3.com Ventures is a web3 funding agency, with a major concentrate on fairness/crypto investments. A few of their portfolio corporations embody Construct on Bitcoin (BOB), Bontanix, Babylon, and OYL. For more information on Web3.com: https://web3.com/
PANONY Ventures was launched in 2018 by Alyssa Tsai and Tongtong Bee, pioneers with over 10 collective years within the Asian blockchain trade. whereas Panony is headquartered in Hong Kong, their workforce of over 30 correspondents, strategists and advisors are primarily based across the globe in key areas – China, Korea and the US. Portfolio corporations embody Solana, Binance, Matrixport, OKX, DYDX. For more information on PANONY: https://www.panony.com/
Zulu Community’s imaginative and prescient is to “Transfer Bitcoin Ahead”. Because it progresses, the workforce is dedicated to fostering an inclusive and vibrant developer group, offering the mandatory instruments and assets to construct distinctive purposes powered by its progressive protocol.
About Zulu Community
Zulu Community is an progressive blockchain answer that mixes the ability of Bitcoin with the flexibleness of EVM-compatible know-how to create a decentralized framework centered on tokenized computing energy and bodily infrastructure. Devoted to fostering a decentralized financial system, Zulu Community empowers customers to make the most of and monetize their assets in methods by no means beforehand attainable. For extra data, go to https://zulunetwork.io/.
Media Contact:
Luke Vinci
Co-Founder
Zulu Community
[email protected]
