ZetaChain announces $27M raise in latest funding round

The funding will be put towards developing a layer-1 blockchain to connect “all chains”


AndriiKoval/Shutterstock modified by Blockworks


ZetaChain announced Wednesday that it had raised $27 million as part of a recent funding round. 

According to a blog post, Blockchain.com, Jane Street Capital, Human Capital, Vy Capital, GSR, amongst others participated in the round. 

With the funding, ZetaChain will continue to build an Ethereum Virtual Machine-compatible layer-1 blockchain. 

To put it simply, EVM is the runtime environment for executing smart contracts on the Ethereum blockchain.

“Since the beginning, along with our 150 contributors from all over the world, we have focused on providing the best possible experience for developers to build genre-defining services that go beyond Web3 and we will continue doing so,” a ZetaChain contributor told Blockworks.

It allows users to access assets and data from a wallet on one platform regardless of the blockchain, expanding this to even include chains such as the Bitcoin network and Dogecoin, despite the fact that both are non-smart contract chains.

“ZetaChain’s Ethereum Virtual Machine compatible omnichain smart contract layer empowers developers to seamlessly implement Bitcoin smart contracts. This unlocks a whole world of users who were previously solely in Bitcoin, enabling them to utilize their Bitcoin within the broader DeFi ecosystem,” ZetaChain said in a blog post announcing the raise.

According to the post, 1.7 million users have used the testnet, totaling over 13 million transactions.

“Our ecosystem counts more than 47,000 dapp contracts, with a diverse range of dapps including cross-chain DeFi, NFTs, universal Web3 social, identity and gaming protocols,” ZetaChain said.

Essentially, the blockchain allows end users to create apps and services “with reduced steps, slippage, fees, susceptibility to race conditions, and overall faster, more accessible and better user experience.”

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Aerodrome is a "MetaDEX" that combines elements of various DEX primitives such as Uniswap V2 and V3, Curve, Convex, and Votium. Since its launch on Base, it has become the largest protocol by TVL with more than $495M in value locked, doubling Uniswap's Base deployment.


Also, a look into how the highly-debated SAB 121 could end up shaking out for crypto custodians


Vance, an Ohio Republican, is largely seen as crypto-friendly


Plus, all the world is green as prices across the crypto space rally, with solana reaching a nearly two-week high


Investors add to crypto positions after “turnaround in sentiment due to lower-than-expected CPI,” CoinShares research head says


Plus, Ethereum is in the midst of a vibecession


Also, former Valkyrie CEO lands new leadership role at Canadian investment firm Cypherpunk Holdings