Taiko Labs has raised $37 million to bolster its Ethereum Layer 2 (L2) solutions, marking a significant step towards the mainnet launch. The funding was secured in a recent $15 million Series A round led by prominent venture firms including Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital, bringing the company's total capital to $37 million. Participation from investors such as Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, WW Ventures, and others underscores broad confidence in Taiko's technology.

Taiko is Ethereum's ZK-Rollup equivalent, aiming to scale Ethereum securely and permissionlessly. Since 2022, Taiko has conducted six testnets with active community participation. Over 1.1 million unique wallets, 30,000 proposals, and 14,000 validators have interacted with Taiko's testnets, which also support over 100 active applications in the ecosystem.

Daniel Wang, co-founder and CEO of Taiko, expressed excitement about the project's future. He emphasized that creating the first Ethereum rollup equivalent has been a multi-year journey. As the mainnet launch approaches, the Taiko team is determined to introduce products as soon as they are ready, demonstrating that what was once deemed impossible is indeed achievable.