ZKcandy raises $4M for its gaming-focused Layer 2 chain

Image Credit: ZKcandy

ZKcandy announced today that it has closed a $4 million private funding round shortly after the open-testnet phase for its gaming-focused Layer 2 chain. During this phase, over 2.4 million wallets were created in two weeks, proving the concept’s ability to both reach and be accessible to a wide audience. According to the company, it plans to use the funding to grow its ecosystem.

The round’s investors include Wemix Pte. Ltd., Animoca Ventures, Spartan Group, Perlone Capital, Presto Labs, Flowdesk, Prometheuz, Lecca Ventures, and Efficient Frontier. Other investors include angels and early contributors, including Stacks, Analog, Mittaria, Xangle, and Trading Strategies.

ZKcandy, which is operated by games company iCandy Interactive, is a gaming network that aims to help bring more games to market. At present, the company has over 25 games in its pipeline, including one based on a popular licensed IP. It plans to use its funding to “build the first Telegram-based EVM gaming ecosystem,” expand its network of partners as well as prepare for mainnet launch in 2025.

Lau Kin Wai, ZKcandy CEO, said in a statement, “Securing this funding is a big step for us. Our goal is to make Web3 gaming more open and accessible to everyone. We want to bring in top games and other large IPs and create a space where users can enjoy smooth, secure, and rewarding experiences. With support from our investors, we will keep building toward that vision.”