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May 31, 2025 - Reddio, a pioneering Layer 2 solution for Ethereum, has announced the closure of its Series A funding round, bringing its post-money valuation to $80 million. This significant milestone follows a previously undisclosed Seed round led by Paradigm and Arena, further solidifying investor confidence in Reddio's innovative approach to blockchain scalability.
Reddio is at the forefront of developing the most performant Parallel EVM Layer 2, leveraging StarkWare’s zkRollup technology to deliver unrivaled computation scale with Ethereum-level security. The platform's unique architecture incorporates multi-thread parallel execution and GPU acceleration optimized with NVIDIA's CUDA, enabling it to achieve high throughput of up to 10,000 transactions per second (TPS) and significantly lower transaction fees. This makes Reddio an ideal solution for developers building efficient, secure, and scalable decentralized applications (dApps) and games.
"Reddio is building economic infrastructure for the blockchain, with a mission to increase the GDP of the blockchain," states Neil Han, Founder & CEO of Reddio. Founded in Singapore in 2021 by Neil Han, Reddio is focused on providing robust tools, including APIs and SDKs, that simplify the deployment of smart contracts and the creation of Web3 applications, even for developers without extensive blockchain experience. The platform boasts impressive traction, having processed over 115 million transactions and serving more than 3,000 developers and 17 million wallet addresses.
The Series A round saw participation from a diverse group of leading investors, including Wagmi VC, Oak Grove VC, Skyland VC, Paramita VC, and Gate Ventures, among others. Reddio has maintained a strong commitment to institutional financing, having never conducted a token sale presale or NFT drop. This approach is reflected in the Series A investors' lock-up period of 12 months with a 4-year vesting schedule, underscoring a long-term vision and alignment with the project's success.
Reddio's roadmap outlines ambitious plans, including the launch of its Parallel EVM L2 devnet in Q3 2024, testnet in Q4 2024 (with a bridge to Sepolia), and GPU compatibility in Q1 2025, culminating in the Parallel EVM mainnet launch in Q2 2025. The platform recently launched Reddio DeFi Genesis, offering staking opportunities for its RDO token with time-weighted rewards, further engaging its community.
By combining cutting-edge parallel execution, GPU acceleration, and zero-knowledge proofs, Reddio is not only enhancing the performance of Ethereum's Layer 2 ecosystem but also laying the groundwork for advanced applications like autonomous AI.
About Reddio:
Reddio is a leading Layer 2 solution for Ethereum, specializing in high-performance Parallel EVM technology with zkRollups. Founded in 2021 by Neil Han, Reddio provides developers with robust tools and infrastructure to build scalable, secure, and cost-efficient decentralized applications and games. With a focus on innovation and institutional backing, Reddio is committed to advancing the capabilities of Web3 and increasing the overall economic output of the blockchain.
Compiled by CMO Intern team
