Skyland Ventures Co., Ltd.
Skyland Ventures participates in funding round for ZKVM-based, privacy-focused layer 2 platform OlaVM
Skyland Ventures (Headquarters: Shibuya-ku, Tokyo, General Partner, CEO: Yoshihiko Kinoshita, hereinafter SV), a venture capital fund that primarily invests in seed startups, has developed a ZKVM-based, high-performance, privacy-focused layer 2 platform. We are pleased to report that we have participated in the funding round of Olavm Technology Ltd.
[Image 1: https://prtimes.jp/i/8324/143/resize/d8324-143-46ffa0f0f1bddf0ecfd7-5.png&s3=8324-143-6a290e47f44c7c056c259be5a2e2e225-3900×2194.png ]
OlaVM is a STARK-based ZK-friendly ZKVM built on a small finite field called the Goldilocks field. As the most important component of the Ola system, OlaVM is primarily utilized to run programs and generate valid proofs for programmable scalable cases and programmable private cases.
Comments regarding this investment
[Image 2: https://prtimes.jp/i/8324/143/resize/d8324-143-202bbcf342ba3a401cd2-4.jpg&s3=8324-143-83792015153a9d2a83a4cbe6e4197409-2048×2048.jpg] Haiyang Chen, CEO of Olavm Technology Ltd.
Our ultimate goal is to make privacy a fundamental right in the digital age, especially for Web3 users. This investment will propel our mission to empower individuals to reclaim ownership of their digital lives while still enjoying the benefits of Ola’s high performance as a L2 ZK- ZKRollup. The successful completion of the $3 million seed funding marks a significant milestone for Ola. With this achievement, we are more determined than ever to accelerate our development efforts and bring Ola’s innovative ZK-ZKVM solution to L1 and the entire Web3 ecosystem.
Our ultimate goal is to make privacy a fundamental right in the digital age, especially for Web3 users. This investment furthers our mission to empower individuals to take back ownership of their digital lives while benefiting from Ola’s high performance as L2 ZK-ZKRollup. Successful seed funding of $3 million marks a significant milestone for Ola. With this achievement, we are more determined than ever to accelerate our development efforts and deliver Ola’s innovative ZK-ZKVM solution to the entire L1 and Web3 ecosystem.
[Image 3: https://prtimes.jp/i/8324/143/resize/d8324-143-1ab6131811c50f4b89b7-3.png&s3=8324-143-6e72c412e9e5d699aef0a363bf592390-1999×1999.png ]
Ken Kojo, Associate of Skyland Ventures
Skyland Ventures is pleased to announce that it has participated in the investment round of OlaVM, a ZKVM project that is currently attracting global attention. Skyland Ventures will continue to invest in important projects not only in Japan but also overseas, fulfilling its mission of serving as a bridge between the world and Japan.
[Image 4: https://prtimes.jp/i/8324/143/resize/d8324-143-9794257fd2dc83b114f6-3.jpg&s3=8324-143-2ba2e5c05dee7895fd14a7ca9c1ed27b-2186×2186.jpg] Yuan Xiao Hang, General Partner & CSO of Skyland Ventures
I think OlaVM is the next layer 2 infrastructure that combines creativity, novelty, and ease of use. Through the high-performance ZK-ZKVM system, you can build a platform with both programmability and privacy. It is a highly anticipated project that allows dApp developers to incorporate private or public transaction functionality into their applications as needed. In addition, the young investors on the SV Web3 team are enthusiastically interested in this new Layer 2 technology, and their positive attitude is impressive.
About Skyland Ventures
Skyland Ventures (SV) is a venture capital (VC) fund that primarily makes seed startup investments. With the mission of “The Seed Maker. & Unlearning.”, we conduct equity and token investments to provide seed money to startups that will have a major impact on the technology industry. So far, we have invested in approximately 150 companies, mainly startups in Japan. From 2022 onwards, we will focus on investing in startups in the Web3 (Crypto/NFT/Blockchain) and Generaltive AI fields.
Company name: Skyland Ventures (Representative: Yoshihiko Kinoshita) Address: Sakuragaoka Front Building II, 16-13 Sakuragaoka-cho, Shibuya-ku, Tokyo URL: https://skyland.vc
Press Kit: https://www.notion.so/skylandventures/Skyland-Ventures-Pres-Kit-821339adc9df435c8dbd5ea4ee2426fe
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