Nexus Secures 25 Million in Series A Funding for ZeroKnowledge Cryptography

Nexus Secures $25 Million in Series A Funding for Zero-Knowledge Cryptography


Hongji Feng
Published:
June 11, 2024 01:31 EDT
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1 min read


In a recent development, Nexus has successfully raised $25 million in a Series A funding round aimed at advancing verifiable computation using zero-knowledge cryptography.
The company disclosed that the funding round was co-led by prominent investors Lightspeed Venture Partners and Pantera Capital, with additional participation from Dragonfly Capital, Faction Ventures, and Blockchain Builders Fund.
Accumulated Funding Reaches $27 Million
With this latest investment, Nexus has accumulated a total funding of $27.2 million, underscoring its commitment to advancing verifiable computation and zero-knowledge cryptography. The funds will be utilized to bolster market initiatives and expand the engineering team.
“Our mission at Nexus is to bring transparency to the online world,” stated Daniel Marin, the founder and CEO of Nexus. “We are dedicated to introducing a new era of computation – verifiable computation.”
Marin emphasized, “We view this as a pivotal moment for humanity, akin to the emergence of the Internet, cloud computing, and AI. Our objective is to democratize access to zero-knowledge proofs for developers and significantly reduce the cost of utilizing such proofs.”
Nexus initially secured seed funding of $2.2 million in 2022, with Dragonfly leading the round and support from Alliance, SV Angel, and Blockchain Builders Fund.
Advancing Nexus 1.0 to 1 Trillion Hertz
Nexus is focused on enhancing speed, security, and user-friendliness for developers through zero-knowledge cryptography. This cryptographic approach enables users to verify the accuracy of information without disclosing sensitive data.
The company has identified a growing demand for proof generation from organizations seeking to scale and fortify decentralized infrastructure. Moreover, Nexus anticipates interest from sectors such as artificial intelligence, cybersecurity, cloud computing, and privacy-enhancing technologies.
“With the surge in AI and the escalating need for data privacy, verifiable computing is becoming indispensable. Nexus’s groundbreaking methodology holds the promise of making advanced cryptographic techniques practical and scalable,” remarked Ravi Mhatre, the founder of Lightspeed.
Previously, Nexus introduced Nexus 1.0, the initial release of its zero-knowledge virtual machine. This system integrated a novel cryptographic technique for proof aggregation and boasted a modular design to enhance and parallelize verifiable computation across machine clusters.
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