TLDR:
- Nexus Labs raised $25M in Series A funding led by Lightspeed Venture Partners and Pantera Capital.
- The company plans to use the capital to accelerate go-to-market efforts and expand its engineering team.
Nexus Laboratories, a Web3 startup focused on building zero-knowledge-powered scaling and privacy tools, has completed a $25 million Series A round led by Lightspeed Venture Partners and Pantera Capital. The fundraising also saw participation from Dragonfly Capital, Faction Ventures, and Blockchain Builders Fund, bringing the total raised to $27.2 million. The company aims to use the fresh capital to speed up its go-to-market efforts and grow its engineering team.
Founded by Daniel Marin, Nexus is developing tools to support technologies like AI, cybersecurity, cloud computing, and privacy-enhancing technologies using zero-knowledge proofs. The company’s suite of tools allows developers to scale their projects, making their zero-knowledge-powered apps faster and more secure. Nexus also recently launched Nexus 1.0, the first major release of its zero-knowledge virtual machine, which introduces a new cryptographic technique enabling highly efficient proof aggregation.
Ravi Mhatre, founder and managing partner of Lightspeed, highlighted the importance of verifiable computing in today’s world, especially with the rise of AI and the need for privacy preservation. Pantera Capital’s general partner, Lauren Stephanian, emphasized Nexus’ focus on enabling zk-rollups, which are in high demand for proof generation.
The company’s innovative approach promises to make advanced cryptographic techniques practical and scalable, reducing costs dramatically and setting new standards for secure and efficient computation. Nexus plans to use the funding to expand its team of engineers, build more products, and support early-stage users in production deployments while engaging with the scientific community.
