Ryodan Systems AG Raises $5 Million in Seed Round Financing for INTMAX Project

On April 13th, Ryodan Systems AG, the development company of INTMAX, a stateless zk Rollup project for various network services and finance, announced the completion of a $5 million seed round financing. HashKey Capital, Bitscale Capital, B Dash Ventures, SNZ, Scroll, Mask Network, and Alchemy Ventures participated in the investment.

Zk-Rollup project INTMAX completed $5 million seed round financing

The development company of INTMAX, a stateless zk Rollup project that seeks to revolutionize network services and finance, Ryodan Systems AG has closed a $5 million seed round financing. A consortium of seven prominent investment companies which includes HashKey Capital, Bitscale Capital, B Dash Ventures, SNZ, Scroll, Mask Network, and Alchemy Ventures are the investment participants.

What is INTMAX?

INTMAX is a stateless zk Rollup project that has been designed to be a game-changer in the network service and finance space. It is built to enhance scalability and data privacy in blockchain applications. INTMAX has the right technical architecture to support the growth of DeFi applications both in terms of improving the scalability of the platforms and the privacy of user data. It has combined rollup ledgers with zero-knowledge proofs to improve scalability, security and data privacy. The aim is to achieve a protocol that can handle higher throughput rates and transactions, reduce network congestion, and enhance lower transaction fees.

Key Investors in Seed Round

Seven companies participated in the investment of INTMAX in the $5 million seed round financing. HashKey Capital is one of the most prominent investors, having recently funded several top blockchain projects like DODO. Its addition to the INTMAX investment portfolio speaks volumes about the potential of the project. Bitscale Capital is another reputable investor with a focus on the DeFi space through investments in major decentralized exchanges including Uniswap and Pancakeswap. B Dash Ventures is also one of Japan’s leading venture capital firms, having made investments in several emerging Japanese companies. SNZ, a blockchain ecosystem developer company that specializes in building smart contract frameworks, is another investor in the seed round. Scroll, a credible investor in the cryptocurrency industry, and Mask Network, a decentralized application (dApp) that offers users a privacy-first browsing experience are among the other investors in the project. Alchemy Ventures is the last investment participant in the seed round for INTMAX.

Benefits of the Seed Round Financing for INTMAX

The completion of the $5 million seed round financing puts INTMAX on a good footing towards achieving its set goals. There are several benefits to be derived from this investment. The first is that it provides the financial support required to sustain the project’s research and development. As a result, the project can accelerate its plans for expansion and make it faster and more scalable. Funding also enables the team behind the project to hire more developers, researchers, and product managers to accelerate the development timeline. This secures INTMAX’s potential advantages in the blockchain industry as a reliable, secure, and scalable protocol.
Another significant benefit of the investment is that it attracts more investors to the project. INTMAX’s novel solution to many of the scalability and privacy issues in decentralized systems means that it is likely to receive the attention of many more blockchain-focused investors. The ultimate goal of the seed round financing is to build a well-funded ecosystem that will enable the expansion and adoption of INTMAX’s technology.

Conclusion:

The completion of the $5 million seed round financing for INTMAX, Ryodan Systems AG’s stateless zk Rollup project for various network services and finance, brings the project a step closer towards its goal of revolutionizing the blockchain industry. The investment would drive the development and research of the project, ensure it becomes a reliable and secure protocol, and create an ecosystem that would enable the expansion and adoption of its technology. The participation of reputable companies such as HashKey Capital, Bitscale Capital, B Dash Ventures, SNZ, Scroll, Mask Network, and Alchemy Ventures is a testament to the immense potential of INTMAX.

FAQs

Q1. What is INTMAX?
A1. INTMAX is a stateless zk Rollup project that enhances scalability, security, and data privacy in blockchain applications.
Q2. Who participated in INTMAX’s $5 million seed round financing?
A2. The seed round financing for INTMAX was participated in by HashKey Capital, Bitscale Capital, B Dash Ventures, SNZ, Scroll, Mask Network, and Alchemy Ventures.
Q3. What benefits will INTMAX derive from the seed round financing?
A3. The seed round financing would provide the financial support required to sustain the project’s research and development, attract more investors to the project, and build a well-funded ecosystem that would enable the expansion and adoption of INTMAX’s technology.