European safety startup Nym Applied sciences has introduced a $13 million funding spherical coordinated by famend crypto investor Andreessen Horowitz, or a16z, with additional participation by enterprise capital companies Digital Foreign money Group, Tayssir Capital, Huobi Ventures, Hashkey and Fenbush.
This third funding spherical represented their highest increase up to now, following seed funding of $2.5 million in Could 2019 and a Sequence A increase of $6 million in July 2021, led by Polychain Capital, according to monetary information from Crunchbase.
Nym Applied sciences is an open-source, decentralized infrastructure that goals to surpass the everyday third-party privateness companies provided on digital non-public networks (VPNs) or Tor networks, by using combine community protocols to obscure people’ metadata footprints, and in flip, evade the burgeoning affect of mass surveillance on the net.
Builders can even make the most of the infrastructure to construct functions with an inherent concentrate on anonymity and privacy-centric on-line experiences.
The Nym group has outlined plans to allocate the funding to increase their neighborhood and their product workforce. The group expects the launch of their decentralized mixnet mainnet, in addition to a tokenomic mannequin for the NYM asset, within the close to future.
And it’s official! Learn the @a16z Nym funding thesis by @alive_eth and @guywuolletjr #DecentralisedGlobalPrivacy#PrivacyToTheMoon#Nymhttps://t.co/aPXDmWAYzu
— Nym (@nymproject) November 18, 2021
DPN vs. VPN: The daybreak of decentralized net privateness
Digital Foreign money Group head of platform Samantha Bohbot shared some perception into why DCG recognized thisfirm as one wherein to speculate:
“NYM has constructed a first-of-its-kind privateness layer, able to defending in opposition to even the fiercest adversaries, and powered by a crypto-economic incentive construction. We envision its know-how setting a brand new commonplace in consumer privateness throughout the web.”
