Lighter Raises $68M at $1.5B Valuation for Ethereum L2
Vladimir Novakovski, former AI prodigy and Harvard graduate, pivoted from his AI social platform to found Lighter, a decentralized exchange and Ethereum Layer 2 blockchain specializing in perpetual futures trading. In its latest funding round, Lighter secured $68 million led by Founders Fund and Ribbit Capital—bringing total financing to nearly $90 million—and achieved an implied valuation of $1.5 billion. Other backers include Haun Ventures, Robinhood, Dragonfly, and Robot Ventures, with the deal comprising both equity and token allocation rights.
Launched in January, Lighter’s rollup-based L2 network quickly ranked among the top Ethereum Layer 2s by total value locked (TVL). It offers zero-expiry perpetual contracts and plans to introduce spot markets for Bitcoin and other tokens. Facing competition from Hyperliquid and Binance-backed Aster, Lighter distinguishes itself through early profitability and a transparent, fair infrastructure layer. With robust investor confidence and rapid TVL growth, Lighter is well positioned for further expansion in the decentralized finance ecosystem.
Bullish
Lighter’s $68 million Series A at a $1.5 billion valuation underscores strong institutional confidence and signals healthy capital inflows into Ethereum Layer 2 infrastructure. Similar funding milestones for competitors like Optimism and Arbitrum preceded token incentives and rapid TVL expansion, driving user adoption and trading volume. In the short term, heightened interest in Lighter and its upcoming spot markets could boost speculative demand for L2 tokens and related perpetual futures products. Over the long term, increased competition among rollups enhances scalability, lowers fees, and fortifies the DeFi ecosystem—factors that are broadly bullish for Ethereum and derivative markets.