Blockchain company Webb Technologies this week announced that it has raised $7 million in seed funding for its privacy solutions and protocol.
The investment round was co-led by Polychain and Lemniscap, with participation from CMS Holdings, Zeeprime, and others.
With offices in Miami, New York, Tel Aviv, and Cairo, the company provides privacy-focused solutions for cross-chain applications, aiming to build an interoperable zero-knowledge privacy network for the blockchain ecosystem.
“Considering the frequency with which assets are transferred across various chains, the risk of data privacy being undermined through different attack vectors is substantial,” the company explained. “Webb 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 new funding, the company says, will be used to expand its employee base and accelerate the development of privacy solutions, such as a cross-chain messaging system.
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