• Webb Protocol has raised $7 million in a seed funding round.
• The new capital will help grow the team and accelerate the development of privacy-focused tools.
• Investors in the round included Polychain Capital, Lemniscap, Zee Prime and CMS Holdings.
Webb Protocol Raises $7M for Privacy-Focused Cross-Chain Bridge
Webb Protocol, creator of zero-knowledge infrastructure that allows for private cross-blockchain asset transfers, has raised $7 million in a seed funding round co-led by Polychain Capital and Lemniscap. The new capital will help grow the team and accelerate the development of new privacy-focused tools.
Zero Knowledge Infrastructure
The protocol is backed by zero-knowledge proofs, a type of cryptography that mathematically validates transactions. The startup plans to expand to offer a cross-chain messaging system that can test data stored within the system.
Privacy Standard for Cross Chain Applications
Webb offers a cross-chain bridge protocol that seeks to provide a new privacy standard for cross-chain applications, covering all assets, data and locations.
Other investors in the round included Zee Prime and CMS Holdings, among others.
Statement From Founder & CEO
“At Webb, we want to maximize the multi-chain ecosystem experience while upholding the highest standards of privacy,” said Webb Protocol founder and CEO Drew Stone in a statement. “Our blockchain infrastructure and privacy protocols are designed to work seamlessly across different chains and applications.”