Espresso Systems, a Layer-2 Innovator, Secures $28 Million in Funding Led by Andreessen Horowitz

Espresso Systems, a blockchain infrastructure project, has secured $28 million in Series B funding led by Andreessen Horowitz (a16z). 

The project focuses on enhancing interoperability among Ethereum (ETH) rollups by creating a marketplace where rollups can auction the rights to construct their blocks. Rollups are solutions that conduct transactions off the Ethereum blockchain but record their data. Notably, Espresso’s recent funding round saw participation from Polygon, Taiko, o1Labs, StarkWare, Offchain Labs, and strategic investors from over 30 ecosystem projects. 

This funding will fuel product development, expand support for the rollup ecosystem, and pave the way for Espresso to operate as a fully decentralized public good. Espresso’s marketplace facilitates cross-chain activities by enabling proposers to bid on multiple rollup blocks, streamlining the integration of various layer 2 solutions.

Clever Robot News Desk 25^th March 2024