Webb Protocol, a privacy system for cross-blockchain asset transfers, has raised $7m in a seed funding round co-led by Polychain and Lemniscap.
Also taking part in the raise were CMS Holdings and Zeeprime amongst other notable investors.
Webb said it is spearheading a new privacy standard on cross-chain applications through its private bridge protocol – an interoperable privacy network for cryptocurrency assets and data.
The Webb protocol is an interoperable zero-knowledge proof-based system for privately moving assets between blockchains. Webb plans to extend this capability into a cross-chain messaging system with zero-knowledge-based property testing for data stored in the system.
With offices in New York, Tel Aviv, Cairo and Miami, Webb said it has already established a strong global footprint, as it gears up for an extended phase of international growth.
The company will use the newly raised capital to expand its staff base, accelerating the development of innovative privacy tools and protocols – including Zero-Knowledge and Multi-Party Computation (MPC) solutions.
Webb Protocol CEO and founder Drew Stone said, “At Webb, we want to maximize the multi-chain ecosystem experience while upholding the highest standards of privacy. Our blockchain infrastructure and privacy protocols are designed to work seamlessly across different chains and applications.
“I’d like to sincerely thank our investors for supporting our vision to spearhead a best-in-class decentralised anonymity protocol for Web3 assets, with a view to scaling privacy for everyone in the crypto space.”
Certif-ID International GmbH, a blockchain-based platform for international skilled professionals, has successfully raised €1.6 million in a seed funding round.
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