Telos Announces $1 Million Strategic Investment from Presto Labs

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Cointime2024/05/08 04:19

By:Cointime

On May 8th, Telos announced that it has received a strategic investment of $1 million from Asian venture capital firm and liquidity provider Presto Labs. This investment marks the beginning of a long-term partnership between Telos and Presto Labs, and the funds will be used to develop Telos' Ethereum Layer2 zkEVM network based on SNARKtor. This funding will also help incubate the development of SNARKtor Labs, Telos' business unit in the Hong Kong region that focuses on accelerating Telos' ZK proof technology infrastructure.

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