Kroma, a Korean Layer 2 blockchain solution provider, has successfully secured Series A funding. This round saw participation from Asia Advisors Korea, Gate Ventures, ICC Venture, Planetarium, Presto, RFD Capital, Taisu Ventures, The Spartan Group, Waterdrip Capital, and several other partners.

Kroma is a leading Layer 2 solution in Asia, designed to facilitate easier access to Web3. It offers a robust network and a range of infrastructure to support decentralized applications (dApps), helping to build an intuitive and gamified real-world decentralized application ecosystem. Built on the OP Stack, Kroma is the first Ethereum Layer 2 solution to implement zero-knowledge fraud proofing, operating a permissionless validator network. Kroma’s modular zero-knowledge (ZK) proof open-source library, Tachyon, enhances the speed and cost-efficiency of generating zero-knowledge proofs. Currently, Kroma is collaborating with over 81 partners, including SK Planet, Xangle, and Hexlant, to further invigorate the Web3 ecosystem, encompassing areas such as gaming, DeFi, and NFTs.

Recently, Kroma transitioned from being a subsidiary of Wemade and reorganized under a shareholder structure comprising various stakeholders, centered around its founding members. This move has strengthened the foundation for global business expansion and provided an opportunity to garner greater support from a broader base of backers.

Kroma will continue its close collaboration with Wemade and deepen its partnerships with major investors in the gaming ecosystem, such as ICC Venture, ISKRA, Overtake, Planetarium, Wellxy, and XStar, to drive the growth of the gamified Web3 ecosystem.

The newly secured funds will be used to enhance Kroma’s infrastructure, expand features, and further develop its platform. Kroma’s applications are designed to cater to a broad user base while ensuring security and operational efficiency.

Tae-gyu Park, CEO of Kroma, stated, “This investment reflects confidence in Kroma’s technological capabilities and strategic vision. With this funding, we will further strengthen our Layer 2 solutions and remain committed to providing efficient and secure blockchain services.”