Espresso Systems, a blockchain infrastructure project, has successfully raised $28 million in a Series B funding round led by investment giant Andreessen Horowitz (a16z). The project’s main objective is to enhance interoperability between Ethereum (ETH) rollups by creating a marketplace where rollups can sell the right to build their blocks to interested parties.

Rollups are solutions that execute transactions outside of Ethereum’s blockchain but still record the transactional data. Espresso Systems highlights that Polygon, Taiko, o1Labs, StarkWare, Offchain Labs, and strategic investors from over 30 ecosystem projects have also contributed to their recent Series B round. In total, the project has raised $32 million through a seed round in 2020 and an Early Stage VC round in 2022.

According to the company, the additional funding obtained will be utilized to continue product development, make significant investments in the broader rollup ecosystem, and establish a foundation for the community to eventually operate and govern Espresso as a fully decentralized and impartial public good for all layer 2s (L2s), including base rollups and validiums. The company plans to aggressively expand its team and efforts through new hires.

There are two primary types of rollups: optimistic and ZK. Optimistic rollups assume transactions are valid by default, while ZK rollups perform computations off the chain and then submit a validity report.

Espresso Systems emphasizes that their marketplace allows proposers to bid on multiple rollup blocks, enabling them to become shared proposers for multiple chains simultaneously. This facilitates cross-chain activity.

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