Announcing Our $2.7M Seed Round To Launch Bitcoin’s First ZK Rollup

Announcing Our $2.7M Seed Round To Launch Bitcoin’s First ZK Rollup
Citrea Seed Round: 2023

Citrea is the first rollup that enhances the capabilities of Bitcoin blockspace with zero-knowledge technology, making it possible to build everything on Bitcoin. Citrea’s vision is to build scalable infrastructure that advances Bitcoin into its next phase, foundation for world's finance.

We’re proud to announce that Chainway Labs, the company building Citrea, has raised $2.7 million in seed funding to develop Bitcoin’s First ZK Rollup. The round closed in 2023 and was led by Galaxy, with participation from investors including Delphi Ventures, Eric Wall, Anurag Arjun, BatuX, Igor Barinov, and James Parillo, among others.

Citrea introduces a zero-knowledge powered rollup solution to address Bitcoin’s challenges in handling more transactions and supporting diverse applications without changing its consensus rules. In doing so, Citrea leverages Bitcoin not only as a digital currency but also as a base layer for securing and settling transactions.

“Bitcoin has largely been understood as a monetary phenomenon to date, with some exceptions in its early history. However, it is also one of the most powerful economic and computation platforms in existence. Chainway's development of the Citrea ZK Rollup should be an exciting next stage in extending the functionality of Bitcoin as a platform.”
- Will Nuelle, General Partner at Galaxy Ventures

We believe Bitcoin scaling solutions should bring value to Bitcoin's blockchain. Existing scalability proposals have consistently failed to meet the increasing demand for inclusion in the Bitcoin blockspace. Our approach to Bitcoin scalability focuses on the active and effective utilization of the Bitcoin blockchain itself, ensuring broader and more sustainable participation within the Bitcoin Network.

This funding round will enable Chainway Labs to bring Citrea to the market. With Citrea, developers can now build anything on Bitcoin, and users can enjoy Bitcoin security at scale.

Chainway Labs has a talented and dedicated team to push Bitcoin scalability further - join us at Careers | Chainway Labs.

Orkun Mahir Kilic
CEO, Chainway Labs

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