Swiss-based Ryodan Systems AG, developer of Ethereum L2 project "INTMAX" using zkRollup technology, has raised approximately 650 million yen in seed round funding. The company aims to build a social infrastructure based on Ethereum using zkRollup for near-zero gas costs and data sovereignty, and plans to provide a global property rights infrastructure.

Investors in the round include HashKey Capital, Scroll, Yusaku Maezawa’s MZ Web3 Fund, and Alchemy Ventures, as well as Ethereum cryptographer Justin Drake and former Coinbase CTO Balaji Srinivasan. The plan is to start a trial operation on the Ethereum mainnet in Q2 2023 and launch the INTMAX mainnet in Q4 2023.