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Holonym Foundation completes $5.50 million seed round financing, led by Finality Capital.

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#DeFi
TechFlow
595Words
Aug 17, 2024

DeepTechFlow news, the decentralized network digital identity security development organization Holonym Foundation announced the completion of a $5.50 million seed round financing. This round was led by Finality Capital and Paper Ventures, with participation from well-known institutions such as Draper Dragon, Arrington Capital, Lightshift, and others.

Holonym Foundation focuses on applying cryptographic innovations and has developed three core protocols:

  • Mishti Network: a groundbreaking threshold entropy network used to generate human keys.

  • Zeronym: a zero-knowledge identity protocol with over 125 thousand users.

  • Silk: a user-friendly encrypted wallet interface.

Shady El Damaty, co-founder of Holonym, stated that they are building technology principles centered around people, aiming to create a global open-source layer that enhances the digital identity capabilities of every citizen through cryptography.

Kamal Mokeddem, General Partner at Finality Capital, believes that Holonym is building critical middleware and applications that will empower Web3 users with strong data ownership, governance, and selective sharing capabilities, potentially driving the next trillion dollars of assets into the blockchain space.

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