Mind Network raises $2.5 million in seed funding, with participation from Binance Labs and others.

Odaily News - Decentralized zero-trust data lake Mind Network has announced the completion of a $2.5 million seed round of financing, with participation from Binance Labs, Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital, and others.

It is reported that Mind Network was previously selected for Binance Labs' fifth season incubation program and the Chainlink BUILD program. Mind Network's strategic partners include Chainlink, Consensys, Arweave, and others.

Mind Network addresses critical Web3 security challenges by providing data protection, smart contract, and AI solutions for Web3 users. It uses encryption mechanisms to protect sensitive information in L1/L2 chains, decentralized storage, and public clouds. Through the use of zero-knowledge proofs (ZKP) and adaptive fully homomorphic encryption (AFHE) technology, it enables individuals to have complete ownership and control over their own data. It also provides user-friendly integrated SDKs, IDEs, and pre-built development kits, making cryptography more accessible and enabling everyone to create and utilize their own private data lake.

According to previous reports, Binance Labs has invested in five selected projects from its fifth season incubation program, including Bracket Labs, dappOS, Kryptoskatt, Mind Network, and zkPass.