Nocturne Labs Raises $6 Million to Revolutionize Privacy on Ethereum
Nocturne Labs, a crypto startup, has secured $6 million in seed funding with co-leadership from Bain Capital Crypto and Polychain Capital.
The round also included participation from Ethereum co-founder Vitalik Buterin, Bankless Ventures, Hack VC, Robot Ventures, and other investors. Nocturne Labs, founded in the United States last year, is developing a protocol to enable users to conduct anonymous transactions within the Ethereum ecosystem. Users will have internal accounts within Nocturne, allowing for anonymous fund transfers and proving ownership through zero-knowledge proof technology.
The company focuses on enhancing privacy within the Ethereum ecosystem and intends to launch its protocol on the Ethereum mainnet next month. To address regulatory concerns, Nocturne is taking a measured approach with a two-step, permissioned deposit process to filter out illicit deposits. The company is also exploring ways to balance compliance with permissionlessness. Currently, Nocturne has a small team, but it may expand its workforce in the future, particularly in engineering, growth, and legal/compliance functions after the mainnet launch.
Clever Robot News Desk 27th October 2023
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