According to Foresight News, Telos, a blockchain network, has announced a strategic investment of $1 million from Presto Labs. The funds will be used to develop a new Ethereum L2 zkEVM network powered by SNARKtor and to promote the growth of SNARKtor Labs. SNARKtor Labs is a business division of Telos based in Hong Kong, focusing on accelerating the ZK proof technology infrastructure of Telos. Telos is currently co-developing L2 with ZK research company Ponos Technology.