Blockchain infrastructure startup Smooth Labs is off to a good start, raising $2 million in a seed round led by NGC Ventures.
Smooth Labs Raises $2M in Seed Funding
The seed round was led by NGC Ventures, one of the industry’s most active crypto investors, with other participants including Cogitent Ventures, ArkStream Capital, and Ian Balina’s Token Metrics.
Smooth plans to use the investments raised to expand its current team of 12. Zi Chen, a partner at NGC, said:
“The team behind Smooth are some of the youngest and most innovative entrepreneurs we’ve ever met.”
The platform is focused on building an EVM-compatible blockchain infrastructure. Smooth Network is currently under development and plans to launch a testnet in Q3 2023.
About Smooth Labs
Smooth is a blockchain infrastructure development company founded in Singapore in July 2022 by Wiger Wei and Lucie Chen. The company is building a blockchain infrastructure that enables transactions to be executed in parallel while maximizing transaction speeds. Smooth Labs plans to become a leading parallel middleware for Layer2 and Appchains. Wei said:
“Smooth is a high-performance module that enhances the transactions per second or TPS of Layer 2 networks and application-specific blockchains or appchains by up to five times. While the concept of parallel transactions is not new, Smooth is the “first” project to leverage the concept for Layer 2s and Appchains.”
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