Kroma, a prominent Layer 2 blockchain solution provider, has successfully completed its Series A funding round, securing investments from a diverse group of notable firms. The funding round saw participation from Asia Advisors Korea, Gate Ventures, ICC Venture, Planetarium, Presto, RFD Capital, Taisu Ventures, The Spartan Group, Waterdrip Capital, and several other partners.
Kroma is distinguished as Asia’s leading Layer 2 solution, specifically designed to make Web3 accessible through intuitive and gamified real-life decentralized applications (dApps). Built on the OP Stack, Kroma is the first Ethereum Layer 2 solution to implement zero-knowledge (zk) fault proofs, creating a permissionless network for validators. By utilizing its modular zero-knowledge proving library, Tachyon, Kroma enhances transaction speed and reduces gas fees, facilitating more cost-efficient and faster zk proof generation.
Additionally, Kroma is pioneering Native Account Abstraction (AA) within the Superchain ecosystem to deliver a seamless Web3 gaming experience. With over 81 partners, including SK Planet, Xangle, and Hexlant, Kroma is expanding its impact across gaming, DeFi, NFTs, and beyond, thereby contributing essential technology to the community.
Kroma has also undergone a significant shift in its shareholding structure, transitioning from being a subsidiary of Wemade to hosting a broader base of shareholders and partners focused around the founders and management. This strategic change positions Kroma to drive its global business forward with enhanced support from a diverse range of stakeholders.
Despite this shift, Kroma will continue to collaborate with Wemade on various initiatives, ensuring the continued growth of the Gamified Web3 ecosystem. The company has secured key investors such as ICC Venture, ISKRA, Overtake, Planetarium, Wellxy, and XStar, and anticipates ongoing collaboration with these partners.
The capital raised will be directed towards further advancing Kroma’s infrastructure, with an emphasis on expanding its functionalities and enhancing the platform’s development. Kroma’s applications are designed to appeal to a broad audience while maintaining high standards of security and operational efficiency.
Taekyu Park, CEO of Kroma, stated, “This investment reflects strong confidence in Kroma’s technology and strategic vision. We look forward to leveraging this funding to enhance our Layer 2 solutions, ensuring we continue to deliver efficient and secure blockchain services.”
Kroma’s strategic direction and technological innovations have garnered significant attention from the investment community. The funds will play a crucial role in scaling operations and integrating new features, further solidifying Kroma’s position in the evolving blockchain landscape.
