European safety start-up Nym Technologies has actually introduced a $13 million financing round worked with by distinguished crypto capitalist Andreessen Horowitz, or a16z, as well as even more got involved by an equity capital companies Digital Currency Group, Tayssir Capital, Huobi Ventures, Hashkey as well as Fenbush.
This 3rd financing round represented their greatest raising to day, adhering to seed financing of $2,5 million in May 2019 as well as Series A raising of $6 million in July 2021 — Polychain Capital led the latter of which — according to monetary information from Crunchbase.
Nym Technologies is an open-source, decentralized framework that intends to exceed the regular third-party personal privacy solutions used on digital personal networks (VPNs) or Tor networks, by using mix network methods to unknown people’ metadata impact, as well as subsequently, avert the expanding impact of mass security online.
Developers can likewise make use of the framework to develop applications with an integral concentrate on privacy as well as privacy-centric online experiences.
The Nym group has actually detailed strategies to allot the financing to increase their neighborhood as well as their item labor force. The group anticipates the launch of their decentralized mixnet mainnet, in addition to a tokenomic version for the NYM possession, in the future.
And it is main! Read the @a16z Nym financial investment thesis by @alive_eth as well as @guywuolletjr #DecentralisedGlobalPrivacy#PrivacyToTheMoon#Nymhttps://t.co/aPXDmWAYzu
— Nym (@nymproject) November 18, 2021
Related: DPN vs. VPN: The dawn of decentralized internet personal privacy
Head of Platform at Digital Currency Group, Samantha Bohbot, shared some understanding right into why DCG determined this company as one to buy:
“NYM has built a first-of-its-kind privacy layer, capable of protecting against even the fiercest adversaries, and powered by a crypto-economic incentive structure. We envision its technology setting a new standard in user privacy across the internet.”
