# Taiko Raises $37M to Date from Top-tier VCs Ahead of Mainnet Launch

By [Taiko Labs](https://paragraph.com/@taiko-labs) · 2024-03-02

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**We are excited to announce that Taiko has successfully raised $37 million across three funding rounds ahead of its mainnet launch this year!**

At Taiko, we are on a mission to scale Ethereum while preserving its core principles, both technologically and ideologically. We are honored to collaborate with a group of investors who not only share our vision but also trust in our ability to achieve it.

Our most recent $15 million Series A was led by Lightspeed Faction, Hashed, Generative Ventures, and Token Bay Capital, with participation from Wintermute Ventures, Presto Labs, Flow Traders, Amber Group, OKX Ventures, GSR, WW Ventures, and more. This latest funding round brings Taiko's total capital raised to $37 million across three rounds, positioning us strongly for our upcoming mainnet launch.

Over the last few months, Taiko has grown to become the largest Discord community in the rollups space, with over 850,000 active members.

On top of that, we’ve conducted six testnets, each focused on different aspects of the protocol, involving 1,100,000+ unique wallets, 30,000+ proposers, and 14,000+ provers. In each of these testnets, Taiko community members contributed by building dapps, operating nodes, serving as proposers and provers, and engaging with the protocol in various ways — all permissionlessly. There are over 100 live apps in the Taiko ecosystem today.

We launched our 6th testnet, Katla, earlier this year. Katla is the first testnet to use Taiko’s [Based Contestable Rollup (BCR)](https://taiko.mirror.xyz/Z4I5ZhreGkyfdaL5I9P0Rj0DNX4zaWFmcws-0CVMJ2A) design, a configurable, multi-proof rollup architecture that features a contestation mechanism and based sequencing. Katla serves as the foundation of Taiko’s upcoming mainnet launch. In the future, Taiko will develop [Based Booster Rollup (BBR)](https://taiko.mirror.xyz/anPjF35Mrc_xzYgOTbUmfjr_MlhE3L8ZBZIxqmz9GZ8), a design that tackles the liquidity fragmentation issue by allowing developers to deploy on Ethereum and scale natively across all L2s.

A huge thank you to each and every member of the Taiko community — we wouldn’t be what we are today without you.

### **Praise from Investors**

Our lead investors have applauded Taiko for our vibrant community, innovative architecture, and successful testnets. Samuel Harrison, Founding Partner at Lightspeed Faction, highlighted Taiko's passionate community and based sequencing architecture.

“Amongst an explosion of new Rollups, Taiko stands out due to its passionate community, paired with a based sequencing architecture, which uniquely simplifies the L2 value chain, streamlining trust assumptions and removing friction for developer adoption,” Harrison said.

Ryan Kim, Founding Partner at Hashed, commended Taiko's work in scaling blockchains using zero knowledge.

“The team's achievements, including vibrant community engagement and successful testnets, underscore our confidence in their vision,” Kim said.

Will Wang, the Managing Partner of Generative Ventures, also added his perspective on Taiko's unique position in the Ethereum Layer 2 network landscape.

“The scaling of Ethereum is an important prerequisite for the blockchain ecosystem to become the mainstream next-generation global financial system,” Wang said. “Due to its positioning and capabilities in type1 and BBR, Taiko is a unique choice among the many Ethereum Layer 2 networks.”

Lucy Gazmararian, Founder of Token Bay Capital, emphasized Taiko's adherence to crypto's original ethos.

“Taiko has been fully decentralized and permissionless from day one, staying true to crypto’s original ethos,” Gazmararian said. “These core values place Taiko in a strong position to become the default scaling solution for Ethereum, and we look forward to continuing our long-standing relationship with the team, helping them to scale across Asia and the Middle East from Token Bay’s hubs in Abu Dhabi and Hong Kong.”

Taiko's Co-Founder and CEO, Daniel Wang, expressed the team's determination to ship their products as soon as they're ready, emphasizing that what had been thought of as impossible is indeed possible.

“Building the first Ethereum-equivalent-based rollup is something we knew was going to be a multi-year adventure,” Wang said. “Now, as we approach main net launch, we realize what a ride it has been. We’re determined to ship our products as soon as they’re ready and show the industry that what had been thought of as impossible, is indeed possible.”

Co-Founder and COO, Terence Lam, emphasized Taiko’s commitment to scale Ethereum in the most native way possible.

“We want to thank everyone who shares our vision and continues to support us in our journey to bring Ethereum to the world,” Lam said.

### **Join us 💗**

Explore open positions on our [job board](https://www.notion.so/Taiko-Jobs-828fd7232d2c4150a11e10c8baa910a2).

### **Follow us 🥁**

To stay updated on the latest from Taiko:

*   Website: [https://taiko.xyz](https://taiko.xyz/)
    
*   Discord: [https://discord.gg/taikoxyz](https://discord.gg/taikoxyz)
    
*   GitHub: [https://github.com/taikoxyz](https://github.com/taikoxyz)
    
*   Twitter: [https://twitter.com/taikoxyz](https://twitter.com/taikoxyz)
    

### **Contribute**

Contribute to Taiko and earn a GitPOAP! You will also be featured as a contributor on our README. Get started with the [contributing guide](https://github.com/taikoxyz/taiko-mono/blob/main/CONTRIBUTING.md).

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*Originally published on [Taiko Labs](https://paragraph.com/@taiko-labs/taiko-raises-37m-to-date-from-top-tier-vcs-ahead-of-mainnet-launch)*
