Saakuru Labs secures $2.4 million in funding to advance Chainwire’s adoption of the Saakuru Protocol


Singapore, Singapore, April 16, 2024, Chainwire

In a significant step towards expanding its reach and capabilities, Saakuru Labs has successfully raised $2.4 million in an oversubscribed private funding round. This capital infusion is intended to accelerate the adoption of the Saakuru Protocol, which has shown remarkable growth and traction in the GameFi sector.

Saakuru Protocol, known for its innovative approach to blockchain scalability and efficiency, has already made a name for itself with over 430,000 wallets holding assets on its mainnet. Its daily transaction volume has increased to over 200,000, making Saakuru the fourth most active Layer 2 (L2) solution in the blockchain space. This level of activity underscores the growing importance of the protocol and growing user confidence in its stability and performance.

This year, the ecosystem around the Saakuru protocol is set to expand significantly. Over 40 projects are expected to go live in 2024. One of them is PlayGround, the flagship gaming platform developed by Worlds Beyond, which is expected to attract a lot of attention. In addition, the gaming landscape is enriched by titles such as Crypto Run, a Made by Apes game, and Soccer Sage, a soccer betting game that will delight fans around the world. Worlds Beyond, a major player in the gaming sector and participant in this funding round, has announced plans to launch three more games this year, further contributing to the ecosystem powered by the Saakuru Protocol.

The funding round is led by Based VC and ARC Community, who show great confidence in the vision of Saakuru Labs and the technical capabilities of the Saakuru Protocol. They are joined by a consortium of notable investors from across the blockchain ecosystem, including Kyber Network, PG Capital, Wizard Capital, Decubate Ventures, Oracles Investment Group, BCW Ventures, Steady Stack, W3GG, Calib3r, Rarible, Worlds Beyond, Uptrend Digital, Arclight Studio and IBC Group. This diverse group of supporters underscores the broad support and belief in the protocol's potential to reshape the future of DeFi and blockchain scalability.

The institutional investors are joined by several high-profile angel investors. They include Gorkem Bereket, the head of growth at Mezo; Ivan on Tech, a renowned blockchain educator and influencer; Marcus “Revenant” Tan, a prominent figure in the esports industry; Dingaling; Sharon Lourdes Paul, the founder of HQ; Artem Sergeev, the founder of Forked; Broderick Sim, the head of growth at Pixelmon; Irene Umar, co-founder and CEO of W3GG; David Johansson, the CEO and creative director of Blocklords; Harrison Goldsmith, the founder of Owl Protocol; 0xAndy.eth, the core team member of BAYC Taiwan; and Pep Ruckpanich, the EIR at 100X. Your commitment brings not only financial support, but also a wealth of knowledge, connections and expertise that will be invaluable to Saakuru Labs' growth and expansion.

The strategic goal of this funding round is to expand the adoption of the Saakuru Protocol and lay a solid foundation for its future development. By engaging a wide range of stakeholders – from institutional supporters to key industry influencers – Saakuru Labs aims to foster a robust and vibrant ecosystem around its protocol. This community-focused approach is a testament to the company's commitment not only to innovation, but also to inclusivity and collaboration in the ever-evolving world of blockchain technology.

About Saakuru Labs

Saakuru is a consumer-focused L2 protocol with no transaction fees, extended with the Saakuru Developer Suite, enabling complex digital products to be embedded into Web3 in a day. The powerful and developer-friendly product suite around the Saakuru blockchain enables cost-effective and seamless Web2 to Web3 connectivity.

Saakuru's ultra-fast block time allows developers to seamlessly run on-chain applications such as MMORPG games, ensuring an authentic multiplayer experience. Additionally, it improves the user experience by completely eliminating gas fees, making it particularly user-friendly for Web3 newbies.

Find out more about Saakuru Labs here.

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ContactCo-founder and CEOJack Vinijstrongjit[email protected]

This article was originally published on Chainwire


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