Lumoz (formerly Opside) has raised $6 million in a pre-Series A funding round at a $120 million token valuation.
Lumoz , a blockchain scaling infrastructure project that helps developers launch zk-rollups, has raised a pre-Series A funding round at a $120 million valuation.
Lumoz began raising for the round this February and closed in March, co-founder Jeffrey Yang told The Block. It was structured as a simple agreement for future tokens round, Yang said, adding that $120 million is a fully diluted token valuation. "We help others build zk-rollups and also provide the underlying modular compute layer," Yang said. "There are substantial computing costs associated with zero-knowledge proof computation for ZK-rollups, which often surpass data availability costs, and Lumoz's modular compute layer aims to bridge this gap by offering modular computing support."
AltLayer can be seen as one of Lumoz's closest competitors, according to Yang. As RaaS platforms, AltLayer and Lumoz help developers build application-specific rollups using modular tech stacks. Existing rollup projects such as Arbitrum, Optimism and ZKSync, on the other hand, can be seen as general-purpose rollups.
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