Polychain Capital Leads $30M Investment Round for ETH Startup Scroll

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Ethereum scaling project using ZK-Rollups technology Scroll has recently raised $30 million, The Block has learned.

The startup’s Series A funding round has been led by Polychain Capital. However, other participants include Bain Capital Crypto, Robot Ventures, Geometry DAO and other investors, as well as several angel investors.

The company has said that it will use the funds to expand the team of 20 people and launch a test network, which is expected to happen in the second half of 2022.

As far as the differences between the developed solution and other L2 scaling protocols is concerned, Scroll co-founder Sandy Peng has noted:

“We are the equivalent or native EVM as defined by the Ethereum Foundation.”

This means developers can copy the smart contract staging code from Ethereum and deploy it on Scroll without making any changes.