Lumoz, formerly known as Opside, Secures $6 Million Valuation in Series A Funding

Lumoz, previously known as Opside, has recently completed a Series A pre-funding round, securing an impressive $6 million valuation. The project, listed by the Innovation Fund of the European Union, is set to enter a new phase of development with the approval of the Lumoz token in August. This milestone marks a significant step forward for blockchain infrastructures in Europe.

The funding round, which saw participation from investors such as OKX Ventures, HashKey Capital, KuCoin Ventures, and others, demonstrates strong support for Lumoz's vision. This vision includes addressing the scalability challenges facing blockchain networks by integrating zk-rollups into the system effectively.

Lumoz's strategic move towards zk-rollups has been instrumental in realizing its vision. The company aims to simplify the launch of zk-rollups for developers with its zk-rollup as a service (ZK-RaaS) platform. This innovative service aims to reduce the entry barrier for developers looking to utilize this technology, making it easier and more accessible.

With the recent funding, Lumoz plans to expand its team, particularly in engineering, marketing, and business development. The company's focus on growing its compute layer service and the upcoming mainnet launch in July are key milestones that will enhance its presence in the blockchain infrastructure space.

The Lumoz token launch, scheduled for August, is highly anticipated following the Points Program that was in place last month. This program allowed users to earn points that could be spent on future tokens, paving the way for a fully tokenized ecosystem.

In conclusion, Lumoz's recent fundraising success and ambitious growth plans are indicative of its commitment to developing efficient and application-oriented blockchain technologies. With a focus on innovation and expansion, Lumoz is poised to play a crucial role in shaping the future of the blockchain ecosystem.