• Webb Protocol, a zero-knowledge privacy startup, has raised $7 million in a seed funding round.
• The new capital will help grow the team and accelerate the development of new privacy-focused tools.
• Investors in the round included Polychain Capital, Lemniscap, Zee Prime and CMS Holdings among others.

Webb Protocol Raises $7 Million 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. The funding comes as investments in zero-knowledge based infrastructure continues to prove resilient amid the bear market.

Features of Webb Protocol’s Zero Knowledge Infrastructure

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. 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.

Statement from Founder & CEO Drew Stone

“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.”

Investors Participating In Seed Funding Round

Polychain Capital and Lemniscap co-led the seed round for the bridge protocol with other investors including Zee Prime and CMS Holdings among others participating in this round as well.

Zero Knowledge Cryptography In 2023: The Year Privacy Becomes Practical

Recommended reading on this topic is Zero Knowledge Cryptography In 2023: The Year Privacy Becomes Practical edited by Nelson Wang

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