A16z crypto leads the charge as Espresso Systems successfully closes a $28 million Series B funding round. This investment propels Espresso’s mission to enhance interoperability among Layer 2 rollups through a novel marketplace for shared sequencing.
Following a $30 million Series A in 2022 and an initial $2 million seed funding, Espresso’s total capital raised surpasses $60 million. The company has kept its valuation under wraps but indicates ongoing discussions with further strategic investors to solidify its financial base.
Innovating for Interoperability
Espresso’s vision focuses on creating a marketplace that allows rollups to auction block-building rights, promising to streamline interoperability and offer new opportunities for stakeholders. CEO Ben Fisch highlights the inclusivity of the marketplace, inviting Layer 1 proposers and rollups to participate in a system that balances autonomy with economic efficiency.
With the integration of tools like HotShot for rapid block finalization and the data availability layer Tiramisu, Espresso aims to revolutionize the user experience on the Ethereum chain. The upcoming testnet, Cappuccino, promises enhanced decentralization ahead of the eagerly anticipated mainnet launch later this year.
Espresso Systems is raising the bar for blockchain technology’s future, ensuring faster, more reliable transactions across the evolving digital landscape.
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