April 05, 2024
Zulu Network, the first two-tiered Bitcoin Layer 2 offering EVM and UTXO support, has successfully closed a $3 million pre-seed funding round. This investment marks a significant milestone in reshaping the Bitcoin ecosystem. The round featured participation from Cryptogram Venture (CGV), D11 Labs, Web3.com Ventures, Satoshi Labs, Splinter Node Capital, Polk Street Capital, BlueRun Ventures China, Ledger Capital, Link Capital, Jingle Mining, Waterdrip Capital, K24 Ventures, and CatcherVC.
Project | Latest Raise | Latest Raise Date | Stage | Total Raise | Category |
Zulu Network | $3M | Apr 5, 2024 | Pre-Seed | $3M | Bitcoin |
Zulu Network is a pioneer in the realm of Bitcoin Layer 2 solutions, boasting a unique two-tiered architecture. This structure supports both Ethereum Virtual Machine (EVM) and Unspent Transaction Output (UTXO) models. The dual-layer architecture introduces ZuluPrime (EVM), an L2 platform aimed at building a new Bitcoin DeFi ecosystem through smart contracts and decentralized applications (dApps), and ZuluNexus (UTXO), an L3 platform that focuses on scalability and innovation within Bitcoin’s original ecosystem and native assets.
The $3 million pre-seed funding will be allocated to several key areas. These include enhancing the infrastructure of ZuluPrime and ZuluNexus, focusing on EVM compatibility, UTXO scalability, and smart contract functionality. Additionally, the funds will advance the decentralized Bitcoin bridge infrastructure, connecting Bitcoin Layer 2s and the broader crypto industry to Bitcoin through a unique bridge architecture.
The investment will also support the expansion of the ecosystem by attracting developers for innovative BitFi applications and establishing strategic partnerships. Finally, funds will be directed towards research and development to explore new technologies and methodologies that enhance Bitcoin’s capabilities and integration within the Zulu architecture.
About Zulu Network:
Zulu Network represents a groundbreaking advancement in the Bitcoin ecosystem, introducing a two-layer architecture to expand the capabilities of the Bitcoin network. ZuluPrime (L2) aims to elevate Bitcoin DeFi (BitFi) with EVM compatibility, while ZuluNexus (L3) expands Bitcoin’s native features through UTXO innovation. Zulu Network’s decentralized Bitcoin bridge will connect all Bitcoin Layer 2 ecosystems and the entire crypto space to the strongest network in the world: The Bitcoin Network, unlocking the Bitcoin economy and BitFi, and opening up innovation for all developers and users.
Website: https://www.zulunetwork.io/
X Account: https://x.com/zulu_network
X Followers today: 91.6k
About Investor
Investor: Cryptogram Venture (CGV)
Cryptogram Venture (CGV) led the pre-seed funding round. CGV is a venture capital firm specializing in investments in blockchain and cryptocurrency startups. Their support in this funding round highlights their commitment to fostering innovation and growth within the Bitcoin ecosystem.
Location: Japan
Website: https://www.cgv.fund/
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