Telos Announces $1 million Strategic Investment in Presto Labs
2024-05-08 11:33:49
On May 8, Telos announced that it has received a $1 million strategic investment from Asian venture capital institution and liquidity provider Presto Labs.
The investment marks the start of a long-term partnership between Telos and Presto Labs, and the funds will be used by Telos to develop the SNARKtor-based Ethereum Layer2 zkEVM network. The funding will also help incubate the development of SNARKtor Labs, Telos' Hong Kong business unit focused on accelerating Telos' ZK proof technology infrastructure.
The investment marks the start of a long-term partnership between Telos and Presto Labs, and the funds will be used by Telos to develop the SNARKtor-based Ethereum Layer2 zkEVM network. The funding will also help incubate the development of SNARKtor Labs, Telos' Hong Kong business unit focused on accelerating Telos' ZK proof technology infrastructure.
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