According to TechFlow, Coindesk reported that on July 2, ZK technology verification company Pi Squared completed a $12.5 million seed round of financing, led by Polychain Capital, with participation from ABCDE, Bloccelerate, Generative Ventures, Robot Ventures and Samsung Next. In addition, angel investors such as Justin Drake of the Ethereum Foundation and Sreeram Kanaan, founder of EigenLayer, also participated.
Pi Squared, led by Grigore Rosu, a professor of computer science at the University of Illinois at Urbana-Champaign, plans to use the new funds to expand its products, including a "universal settlement layer" and "universal zero-knowledge circuits," the latter of which will enable trustless remote computing, AI, and interoperable smart contracts for blockchains or dApps. The project is expected to enter the testnet stage by the end of 2024.
