Lumoz, formerly known as Opside, has recently completed a successful Series B funding round, raising an impressive $6 million and achieving a valuation of $120 million. This milestone marks a significant step for the company, which has been focused on improving the scalability of blockchain infrastructure. Lumoz has been recognized by the European Union's Innovation Fund, indicating a promising future for the company's token approval and growth in the European market.

The latest round of funding was supported by a consortium of investors, including OKX Ventures, HashKey Capital, KuCoin Ventures, Comma3 Ventures, Kronos Ventures, Kernel Ventures, and Polygon co-founder Sandeep Nailwal. This community-backed endorsement highlights the industry's confidence in Lumoz's vision for the future of blockchain scalability through zk-rollups.

Lumoz's strategic rebranding and successful funding round are the result of the company's ongoing efforts to enhance the usability and scalability of blockchain technology. The company's zk-rollup as a service (ZK-RaaS) platform enables developers to easily launch application-specific zk-rollups, simplifying the process and reducing the entry barrier for those interested in using this technology. Lumoz's modular layer is already being utilized by projects such as ZKFair and Merlin Chain, demonstrating the platform's potential beyond Ethereum.

The recent funding will support Lumoz's growth, allowing for new hires in engineering, marketing, and business development roles. As the company prepares for its mainnet launch in July, the additional resources will help ensure Lumoz's continued presence in the infrastructure space and enhance its services for the blockchain community.

In August, Lumoz will introduce its token, following a successful Points Program that allowed users to spend points on future tokens. This initiative signals the company's commitment to a fully tokenized ecosystem, creating a more user-friendly platform for the blockchain community.

Conclusion:

In conclusion, Lumoz's successful fundraising and ambitious growth plans highlight the company's potential to play a significant role in the blockchain ecosystem. By providing developers with the necessary tools and resources, Lumoz aims to drive innovation and expansion in the next generation of blockchain applications.