DoubleZero Foundation has successfully raised $28 million in its latest funding round, bringing the company’s valuation to $400 million. The round was led by Dragonfly and Multicoin Capital. Currently, DoubleZero Foundation is seeking strategic partners to continue fundraising at a $600 million valuation, indicating that the capital-raising process is still ongoing.
The DoubleZero project aims to build a new Internet infrastructure to enhance blockchain performance. The company’s goal is to develop a global private fiber optic network, enabling blockchain data to be transmitted more efficiently than through the public Internet. This technology is considered a key enabler of Solana’s vision to process 1 million transactions per second.
Currently, DoubleZero has launched a permissioned testnet for Solana validators and RPC nodes, with plans to expand to other blockchains. The project's fiber optic network is already integrated with dedicated transmission lines operated by Jump Crypto, RockawayX, Distributed Global, Latitude, and Terraswitch, while also expanding partnerships with new participants