Gate-backed modular zkEVM project Kakarot has successfully closed its latest funding round, as reported on November 14. This financial injection was spearheaded by Stake Capital Group and LongHash Ventures, with significant contributions from a roster of prominent investors including Eterna Capital, Fenbushi Capital, Gate Ventures, and Foresight Ventures.

While the exact sum raised remains undisclosed, the newly acquired capital is earmarked for bolstering the Kakarot team and accelerating the development of innovative scaling solutions for the Ethereum network.

This recent funding event follows a previously held Pre-Seed round, details of which were not made public. As earlier reported on June 2, the initial funding phase attracted notable figures in the blockchain space, including Ethereum's co-creator Vitalik Buterin, as well as Node Guardians' Founder and CEO Sam Benyakoub, LambdaClass, and Rand Hindi, who heads Zama.

The successive rounds of investment highlight the confidence the crypto community places in Kakarot's vision and its commitment to enhancing Ethereum's capabilities. This focus on scalability and efficiency is viewed as a crucial step in the ongoing evolution of blockchain technology.

As the project moves forward, industry observers will be keen to see how Kakarot leverages this new influx of resources to push the boundaries of Ethereum scaling solutions and contribute to the broader advancement of decentralized technologies.