Matter Labs, a Berlin-based Web3.0 company that is a developer focused on scaling Ethereum, a decentralized network created with the goal of removing barriers between parties, stated that it has received $200 million in capital through its Series C funding round.
Matter Labs gave the announcement through a blog post. The company stated that the fundraising was largely supported by Blockchain Capital, and Dragonfly Capital with Lightspeed, Variant, and a16z in participation.
Matter Labs intends to use the funds gotten from the fundraised to launch its projects on zKSync, finance ecosystem initiatives created by other teams, build Matter University, and expand the size of Matter’s staff to make zkSync the top option for developers.
So far Matter Labs has raised a total of $458 million to fund its zKSync project. This consists of a separate $200 million ecosystem fund, a Series B-led fund by a16z for $50 million, and $8 million in Series A and Seed Round.
Matter Labs also stated that it has secured a partnership with OpenZeppelin, a smart contract auditing firm. Matter Labs hopes to use OpenZeppelin to perform a full security audit on its code as the firm prepares for the upcoming Fair Onboarding Alpha and Fair Launch Alpha milestones.
Digital Companies Receiving Seed Funds
Despite the worry that the sudden collapse of the defunct FTX exchange has caused in the blockchain industry, some investors are still injecting funds into the digital ecosystem as they anticipate that the industry will eventually pick up.
A recent survey by Coinbase suggests that institutional investors are still acquiring digital assets, and their allocation to cryptocurrencies has been rising linearly since the extended crypto winter.
A sample of 140 institutional investors participated in Coinbase’s Institutional Investor Digital Assets Outlook Survey. These investors collectively represented $2.6 trillion in assets under management (AUM).
Notably, the survey’s findings show that 62% of institutional investors have boosted their allocations to cryptocurrencies over the previous year. 12%, on the other hand, have decreased their allotments. More than 50% of the sample who responded to the study said they intended to use or were currently using the “Hold on Dear for Life” (HODL) approach for cryptocurrencies.
In related news, the Central Bank of the US under the Federal Reserve System gave reports that crypto is no longer in the list of the top 10 most cited potential threats to the economy.
