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Matter Labs was founded by Ukrainian Alexei Glukhovsky and Russian Alexander Vlasov.
History
2021: Raising $50 million
Founded by Ukrainian Alexei Glukhovsky startup , Matter Labs, which is developing a scaling protocol, blockchain Ethereum raised $50 million as part of the Series B financing round. Earlier, in February 2021, the startup raised $6 million through round A.
The round was led by Andreessen Horowitz (a16z), Placeholder, Dragonfly, Blockchain.com, Crypto.com and 1kx, and other investors took part. In total - about 70 participants.
 | The project has wonderful founders: Alexei Glukhovsky was the co-founder of three companies and the fourth CTO, Alexander Vlasov - a technological visionary with a scientific background and a doctorate in electrical engineering, - noted in Andreessen Horowitz. |  |
Matter Labs is developing the Ethereum block chain scaling protocol, which reduces traffic on the central Ethereum blockchain by transferring the heavy transaction processing load to efficient secondary chains that write transaction packet data to the leading Ethereum network. This solution allows developers to take advantage of faster and cheaper transactions without compromising the security of the Ethereum ecosystem. Matter Labs creates zero-disclosure (ZK) proof technology on Ethereum and in 2019 launched its first publicly available prototype of the ZK storage package.
Matter Labs is not the only group that creates the ZK cumulative product, but their main advantage is that they are already deeply testing a solution that will help Ethereum developers not only process transactions inside the zkSync, but also manage smart contracts based on the Solidarity programming language built into the product.
| | Historically, ZK-based scaling solutions have forced developers to learn a new programming language, "says a16z Crypto general partner Ali Yahya. - Matter Labs was able to create a compiler for Solidarity that converts conventional smart contracts running on Ethereum into zero-disclosure evidence so they can be used with zkSync. | |
The investment will be used to finance the growth of Matter Labs, including the expansion of the startup's scientific and engineering teams.[1]
Notes
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