• September 26, 2023


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Polyhedra Network Attracts $10M

ByLouis Adams

Feb 22, 2023
Reading time: < 1 minute

Web3 infrastructure startup Polyhedra Network has recently raised $10M in a funding round led by Binance Labs and Polychain Capital.

Other participants in the funding round include Animoca Brands and Dao5.

Polyhedra Network developers have created several products based on zero-knowledge proofs, including zkBridge, a solution for moving assets from Web 2.0 to Web3 systems, zkDID, a system for decentralized identification and ParaPlonk, a scaling solution using ZK-Rollups.

The startup will expand integration with various blockchains, make products more accessible to developers using APIs and SDKs, and improve the ParaPlonk protocol.

Infrastructure projects have accounted for approximately 20% of the total number of venture capital deals in the crypto industry over the past six months.