Web3 Gaming Firm ZKcandy Raises $4M in Funding Round

ZKcandy, an Ethereum-based gaming network operated by iCandy, announced on Monday that it successfully closed a $4 million private funding round with participation from Wemix Pte, Animoca Ventures, Spartan Group, and Perlone Capital.

The company revealed that it would allocate these funds for its mainnet launch, planned for the first half of 2025.

In a Medium blog post , ZKcandy confirmed that angel investors and early contributors, including Stacks, Analog, Mittaria, and Xangle, also participated.

The funding followed an open testnet phase that generated 2.4 million wallets in just two weeks.

ZKcandy’s Funding Round and Progress

The company stated that this investment supported its goal of expanding Web3 gaming and increasing accessibility to a broader audience.

Lau Kin Wai, CEO of ZKcandy, explained that the team worked to bring in top games and large IPs, allowing users to experience smooth and secure gameplay.

He noted that the new capital would help the company continue building toward that vision.

ZKcandy sets itself apart as the only Layer 2 chain in Web3 gaming with foundational ties to a major game studio.

Relying on the team’s experience in gaming product development, ZKcandy said it would accelerate the market launch of high-quality game titles.

The platform now counts more than 25 games in development, including a Tier-1 Hollywood IP-based offering.

ZKcandy to Build Telegram-Based Gaming System

The $4 million funding backs several strategic initiatives.

ZKcandy plans to create the first Telegram-based EVM gaming ecosystem and collaborate with key intellectual property holders to boost engagement.

The company also intends to integrate AI agents for enhanced gameplay, expand its network of partners, and welcome AAA game developers.

ZKcandy’s approach to user accessibility is expected to strengthen its position in the Web3 gaming space .