TechFlow reported, according to Chainwire, that Telos has announced a $1 million strategic investment from Presto Labs, an Asian venture capital firm and liquidity provider. This investment marks the beginning of a long-term partnership between Telos and Presto Labs, with funds allocated toward developing Telos' Ethereum Layer 2 zkEVM network based on SNARKtor. The funding will also support the incubation of SNARKtor Labs, Telos' operational arm in Hong Kong focused on accelerating the development of Telos' ZK-proof technology infrastructure.
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