According to The Block, Taiko, a zkRollup-based Ethereum second-tier network, has raised $22 million in two rounds of seed funding, with the first round being a $10 million round led by Sequoia China and ending in the third quarter of 2022 , the second round was a recent $12 million round led by Generative Ventures. Other investors in both rounds included IOSG Ventures, GSR, and GGV Capital, as well as angel investors such as POAP founder Patricio Worthalter, Tim Beiko of the Ethereum Foundation, and Anthony Sassano. Taiko launched the Alpha-3 incentive testnet yesterday. Taiko said that the testnet focuses on the decentralized, Ethereum-equivalent ZK-EVM part.