Nucleo, a private, non-custodial, auditable multi-sig on Ethereum that provides the privacy infrastructure for crypto firms, has raised $4m in a seed round.
The round was led by Bain Capital Crypto and 6th Man Ventures, and saw participation from investors such as Aleo, Espresso Systems and Aztec Network.
Leveraging advanced multi-signature and zero-knowledge cryptography, Nucleo provides the privacy infrastructure for any organization to take advantage of improved capital allocation, formation, and distributed ownership by going Web3-native.
By partnering with leading privacy networks like Aztec, Aleo, and Espresso Systems, Nucleo will encourage adoption of blockchain systems with privacy by offering non-custodial, programable, and auditability solutions.
According to Nucleo, the seed funding will enable the firm to further expand its team and support private multi-sig integration with existing organisation tools including Juicebox and Gnosis.
New capabilities Nucleo intends to develop with the proceeds include private DeFi for organizations, multi-chain privacy, and innovations needed across the entire tech stack to provide greater flexibility and expressivity for using private multi-sigs.
Nucleo co-founder and CEO Matt Wyatt said, “What started as a fun side project, quickly turned into critical technology that unlocks an entirely new design space for the future of organizations to innovate around ownership, financing, employment, rewards and more.
“Nucleo believes private, multi-sig infrastructure is essential to this future and is focused on leveraging this technology to foster next-generation opportunities that benefit the entire ecosystem.”
NGRAVE, a blockchain and digital asset security provider, recently received backing from Binance Labs in its upcoming Series A funding round to boost crypto self-custody.
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