HomeBlockchainLagrange secures $13 million in funding to develop blockchain-powered cryptographic computation for...

Lagrange secures $13 million in funding to develop blockchain-powered cryptographic computation for large-scale data analysis

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Lagrange Labs Raises $13.2 Million in Seed Funding for Blockchain-Based Cryptography Protocol

Lagrange Labs, a cutting-edge startup focused on blockchain-based cryptography, has just secured an impressive $13.2 million in seed funding to propel its mission of revolutionizing verifiable computation over blockchain at a “big data” scale.

The funding round, spearheaded by Peter Thiel’s Founders Fund, also attracted investments from Archetype Ventures, 1kx, Maven11, Fenbushi Capital, Volt Capital, CMT Digital, and Mantle Ecosystem Fund. Lagrange Labs plans to utilize this funding to expedite the development of its technology stack and cultivate its ecosystem of partner projects.

Inspired by the renowned mathematician and astronomer Joseph Lagrange, the company’s name pays homage to Lagrange points, which are positions in space that exhibit stability between two celestial bodies. This stability concept is mirrored in Lagrange’s protocol, which aims to provide stability for blockchain applications.

One of Lagrange’s key offerings is the ZK Coprocessor, a groundbreaking technology that enables the scaling of data and computation across blockchains using cryptography. This allows decentralized applications to access large-scale data from SQL queries without knowledge of their origin, safeguarding the privacy of data producers at a minimal cost to users. Additionally, the coprocessor is highly scalable for processing large batches of data, making it ideal for applications in decentralized finance, on-chain reward systems, and the integration of blockchain and artificial intelligence data.

Ismael Hishon-Rezaizadeh, founder and CEO of Lagrange Labs, expressed pride in the company’s growth and innovation, highlighting their commitment to advancing foundational cryptography and commercializing their innovations. Since its inception, Lagrange has collaborated with various blockchain projects, including Eigen Labs’ EignLayer, Coinbase Inc.’s Base, LayerZero Labs Inc., and Frax Finance.

The company recently launched the first ZK Coprocessor testnet, “Euclid,” generating over 40,000 proofs and establishing a network of more than 40 node operators. Lagrange plans to launch the mainnet for the ZK Coprocessor in late May, enabling developers and ecosystem partners to leverage it for building on-chain applications and scaling big data.

With this significant funding and innovative technology, Lagrange Labs is poised to make a substantial impact in the blockchain and cryptography space, driving forward the possibilities of verifiable computation and data scalability.

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