Z21 Labs, Inc. announced that it will issue 15,976,882 series C preferred Stock at an issue price of $7.8238 per share for gross proceeds of $124,999,929.39 on April 12, 2022. The series C preferred stock will be convertible into common shares at a fixed conversion price of $7.8238 per share. The transaction was led by new investor SoftBank Vision Fund 2, fund managed by SoftBank Investment Advisers (UK) Limited on April 12, 2022.

The transaction also included participation from new investor Zoom Video Communications, Inc., returning investors Menlo Ventures Management, L.P., Nexus Venture Partners, Scale Management, LLC, Emergent Ventures, NGP Capital, Steadview Capital Management LLC, and Next47 GmbH. The company has received $213 million in funding till date. The shares issued are non-redeemable.