Venture Capitalists Lightspeed Venture Partners and Pantera Capital Headline $25M Series A Investment in Nexus Labs

Nexus Laboratories Secures $25 Million in Series A Funding

Nexus Laboratories, a Web3 startup focused on building zero-knowledge privacy tools, has announced the completion of a $25 million Series A round. The fundraising was led by Lightspeed Venture Partners and Pantera Capital, with additional participation from Dragonfly Capital, Faction Ventures, and Blockchain Builders Fund.

The funding will be used to support early-stage users in production deployments as Nexus Laboratories continues its engagement with the scientific community. The company aims to make zero-knowledge proofs accessible to any developer and drive the cost of zero-knowledge proofs down by orders of magnitude.

Nexus Laboratories offers a technology suite that aims to help "bring truth to the internet." The startup's flagship product, Nexus 1.0, is the first major release of its zero-knowledge virtual machine. This release introduces a new cryptographic technique enabling highly efficient proof aggregation.

Lauren Stephanian, general partner with Pantera Capital, stated that Nexus is focused on enabling zk-rollups, the largest source of demand for proof generation today. Ravi Mhatre, founder and managing partner of Lightspeed, commented on Nexus Laboratories' leading role in the Series A round, stating that the rise of AI and the need for privacy preservation makes verifiable computing essential, and that Nexus's innovative approach promises to make advanced cryptographic techniques practical and scalable, reducing costs dramatically and setting new standards for secure and efficient computation.

Daniel Marin, founder and CEO of Nexus Laboratories, expressed his excitement about the funding, stating that the funds will be used to expand the team of engineers and build more products. This fundraising brings the total raised by Nexus Laboratories to $27.2 million.

With this new round of funding, Nexus Laboratories is poised to continue its mission of making zero-knowledge proofs accessible and affordable for developers, contributing to the growth and security of the internet. As zk-proofs become more prevalent in the coming months and years, Nexus Laboratories' technology could play a crucial role in powering thousands of rollups and ensuring the privacy and security of online transactions.

Venture Capitalists Lightspeed Venture Partners and Pantera Capital Headline $25M Series A Investment in Nexus Labs