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Citrea - Seed
Overview
Funding Date
February 22, 2024
Financing amount
$2.7M
Valuation
--
Catagory
About Citrea - Seed
Chainway Labs disclosed that it had raised $2.7 million in a seed fundraising round led by Galaxy Ventures. The round saw participation from other investors including Delphi Ventures; Eric Wall, co-founder of the Taproot Wizards NFT project; and Anurag Arjun, co-founder of data availability blockchain Avail. With Citrea, Chainway is working to help Bitcoin better accommodate decentralized finance (DeFi), NFTs and other use cases that were previously only possible on smart contract-based blockchains like Ethereum, but are now possible for Bitcoin to handle.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | Thailand | 2012 | 11 | adrian@galaxyventures.co.th | ||
| Corporate | United States of America | 2018 | 20 | -- | ||
| Angel Investor | -- | -- | 5 | -- | ||
| Angel Investor | India | -- | 5 | -- | ||
| Angel Investor | United States of America | -- | 3 | -- | ||
| Angel Investor | -- | -- | 2 | -- |
Company Profile / Project Introduction
Citrea is the first rollup that enhances the capabilities of Bitcoin blockspace with zero-knowledge technology, making it possible to build everything on Bitcoin. This requires no changes to the network's consensus rules. Citrea processes a large number of zkEVM transaction batches and submits a succinct zero-knowledge proof that allows easy verification of the batch validity in an inscription-like envelope to Bitcoin. The zero-knowledge proofs generated by the prover outputs the state difference that batch resulted in, with these proofs then being published to Bitcoin regularly.