ZK development startup Virtual Labs raises US$1.2 million at a valuation of US$20 million, led by OP Crypto

ZK development startup Virtual Labs announced the completion of a $1.2 million Pre-Seed round of financing at a valuation of $20 million, led by OP Crypto, with participation from Byzantine Marine, Koyamaki Ventures, NEAR Foundation and several angel investors. Virtual Labs is committed to enhancing the Web3 user experience by leveraging zero-knowledge technology to eliminate gas fees, latency, and cumbersome wallet interactions. The company’s flagship product, Virtual rollup, is a ZK state channel that facilitates unlimited transactions from an unlimited number of participants. (Cointelegraph)