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Offchain Labs raises $120 million to hide Ethereum’s shortcomings with its Arbitrum product

"The Layer 2 landscape is early, but crucial to the continued scalability of Ethereum. As a result, there’s been quite a bit of passionate chatter among blockchain developers regarding the early players in the space. Offchain Labs has been developing one particularly hyped rollup network called Arbitrum One, which has built up notable support and momentum since it beta-launched to developers in May, with about 350 teams signing up for access, the company says.

They’ve attracted some high-profile partnerships including Uniswap and Chainlink who have promised early support for the solution. The company has also quickly piqued investor interest.

https://techcrunch.com/2021/08/31/offchain-labs-raises-120-million-to-hide-ethereums-shortcomings-with-arbitrum-scaling-product/