ZK infrastructure startup Polyhedra raises $10 million, led by Binance Labs and Polychain Capital

念银思唐

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2023-02-22 01:50 (UTC+8)

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Other investors in this strategic round include Animoca Brands and Dao5.

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Other investors in this strategic round include Animoca Brands and Dao5.

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Summary:

- Binance Labs and Polychain Capital co-led a $10 million funding round for zero-knowledge (ZK) infrastructure startup Polyhedra Network.

- Animoca Brands and Dao 5 also participated in this strategic round.

Web3 infrastructure startup Polyhedra Network has raised $10 million in funding co-led by Binance Labs and Polychain Capital.

Animoca Brands and Dao 5 also participated in the strategic round, the company said in a release.

Polyhedra has developed a number of infrastructure products using zero-knowledge (ZK) proof technology, including the ZK bridge (zkBridge) solution for sending assets between Web2 and Web3 systems; the ZK decentralized identity solution (zkDID) and scalable A revolutionary solution to accelerate ZK rollups using a massively distributed proof generation network called ParaPlonk.

The startup plans to integrate with more blockchains and make the platform more accessible to developers through API and SDK tools. The company also intends to refine its ParaPlonk protocol to appeal to developers looking for efficient and distributed ZK-rollup solutions.

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Polychain layout ZK project

"Polyhedra is driving the development of some of the most innovative ZK infrastructures in Web3." Luke Pearson, a partner at Polychain Capital, said at the release, "A good architecture promotes cross-chain operations and interconnects the blockchain ecosystem. to build the next generation of financial technology."

Polychain has recently bet on a number of ZK startups, including:- News of February 17 this year,Cysic Announces $6M Seed Funding Round

. This round of financing was led by Polychain Capital, with Hashkey, SNZ Holding, A&T Capital, ABCDE, Web3.com and others participating. It is reported that Cysic aims to provide a hardware acceleration solution for the ZK proof protocol.- News of January 19 this year,ZK technology developer Nil Foundation closed $22 million in funding late last year

, after the completion of financing, the valuation reached 220 million US dollars. This round of financing was led by Polychain Capital, with participation from IOSG Ventures, Blockchain Capital, Starkware, and Mina Protocol. Founded in 2018, Nil is the developer of the Proof Market protocol, which enables Layer 1, Layer 2, protocols to generate zero-knowledge (ZK) proofs on demand.Nil Foundation recently released a new technology zkLLVM

, enabling developers to use the popular coding languages Rust and C++ to build zero-knowledge circuits with significantly reduced workloads. LLVM stands for "Low-Level Virtual Machine" and refers to a set of open-source code libraries that developers use to "compile" readable code into a format that computers can interpret. The zkLLVM project will also automatically plug into the Nil Foundation's recently announced ZK proofs marketplace, which it created to help ZK teams offload their work and outsource certain types of computation to third parties.- News April 21, 2022,Ethereum Scaling Network Scroll Completes $30M Series A Funding

Infrastructure projects accounted for about 20% of all seed funding deals over the past six months, research analyst John Dantoni wrote in The Block Research's January funding report.