6 February 2024 - LightLink, an Ethereum Layer 2 blockchain that lets dApps and enterprises offer users instant, gasless transactions, has just closed a $4.5 million seed funding round. The round is led by a $3 million investment from MQDC, a leading Thai real estate developer with projects like the Waldorf Astoria Bangkok and IconSiam, and T&B Media Global, a Bangkok-based conglomerate in entertainment technology and media.
Additional investors include seasoned Web3 venture capital firms JellyC, Aweh Ventures, B3V, Blue7, Organik, Big Kid Ventures, and Gandel Invest.
LightLink was developed by Pellar Technologies, who have constructed over 50 blockchain projects for major enterprise-level businesses in the APAC region since 2017. Today, LightLink ranks in the top 10 in transaction volumes among rollups, reaching 5,712 transactions per second at a 500ms processing time, and has surpassed 215,000 unique wallet addresses operating on-chain.
Roy Hui, Co-Founder and CEO of LightLink, said, “Our aim is to bridge the digital economy with millions of users across the globe. The funding we've received enhances our focus on making blockchain as intuitive as traditional web platforms, with an emphasis on gasless transactions.”
Hui has helped realize this vision alongside a team of experienced blockchain engineers and Ethereum experts, having previously collaborated with its two largest seed round investors to develop Translucia, an ambitious multiverse project that blends the virtual and physical worlds and is backed by $300 million in funding from T&B Media Global and MQDC. LightLink’s network and support in providing fast and gasless transactions for the project enabled easier access for users more accustomed to traditional web2 platforms, and eliminated the complexities typically associated with web3 projects that require significant amounts of computational power.
Dr. Jwanwat Ahriyavraromp, CEO of T&B Media Global (Thailand) and founder of Translucia, expressed his excitement for the partnership, "This collaboration is an ideal alignment, driven by our mutual goal to establish an interconnected, user-friendly digital world that shares happiness to the world. We're excited to introduce Web2 users to the capabilities of Web3 and firmly believe that this is a significant step towards democratizing digital technology."
The success of LightLink's seed funding round follows its recent partnership with Animoca Brands, a key player in digital property rights for gaming and the metaverse, which will seek to integrate LightLink's Ethereum Layer 2 technology into Animoca's gaming projects. The partnership’s goal is to strategically advance the web3 gaming industry, focusing on enabling gasless transactions through the use of LightLink’s proprietary Enterprise Mode with as little as $0.01 in fees across its network.
With strong leadership, a clear mission, and this $4.5M in seed funding from influential investors, LightLink is well on its way to bringing blockchain technology to the mainstream.
About LightLink
LightLink is an Ethereum Layer 2 blockchain that lets dApps and enterprises offer users instant, gasless transactions. Integrating optimistic rollups with its proprietary stack, LightLink potentially offers a transaction throughput more than 400 times Ethereum's, ensuring unmatched scalability and a streamlined user experience. LightLink's novel Enterprise Mode enables businesses to operate gas-free, allowing users on their platforms to engage in a secure, user-friendly blockchain network without transaction fees, barriers to entry, or the need for any tokens. LightLink already powers over 25 partnerships, including Grapes and The Red Village, and is being integrated in Translucia, a US$300 million venture by T&B Media Global and MQDC. LightLink's mission is to seamlessly integrate millions into the digital economy through user-focused dApps and enterprise partnerships, making blockchain as intuitive and accessible as Web2, without the complexity of gas fees and protocols.