Zero-knowledge cryptography firm Nexus Labs has raised $25 million in its Series A funding round co-led by Lightspeed Venture Partners and Pantera Capital, in a move to scale its project.

The team announced in a blog post on Monday that the funding round also drew participants including Dragonfly, Faction and Blockchain Builders Fund. The project previously closed its $2 million seed round led by Dragonfly in late 2022.

The team plans to use the new funding to accelerate the open-source development of Nexus 1.0 as well as the expansion of its engineering team.

What is Nexus Labs doing?

Nexus aims to enable verifiable computation in applications via cryptography and zero knowledge proofs. 

The Nexus 1.0 zkVM is a modular zkVM written in Rust, focused on performance and security, …