Cystic Completes $6 Million Seed Funding Round Led By Polychain Capital

02/17/2023 14:09 • Metaverse Matters • 132 views

Cystic Completes $6 Million Seed Funding Round Led By Polychain Capital

It is reported that the Zero-Knowledge (ZK) hardware start-up Cystic has completed a seed round financing of US $6 million. This round of financing is led by Polychain Capital, and other investors include Hashkey, SNZ Holding, ABCDE and Web3.com Foundation.

Zero-knowledge hardware startup Cystic completed $6 million seed round financing

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Cystic, a Zero-Knowledge hardware start-up, has recently completed a seed round financing of US $6 million, led by Polychain Capital, with several other investors, including Hashkey, SNZ Holding, ABCDE and Web3.com Foundation. This development highlights the growing interest and trust that investors have in Zero-Knowledge technology, which is becoming increasingly important in the era of digital privacy and security.

Zero-Knowledge technology is a type of encryption that allows two parties to share information without revealing any sensitive data. It enables secure transactions and communications over the internet without risk of leaks or hacks. Zero-Knowledge hardware takes Zero-Knowledge technology to the next level by embedding this encryption directly into hardware devices, making it even more resistant to breaches and attacks.

Cystic’s completion of the $6 million seed round funding suggests growing investor interest in Zero-Knowledge hardware companies, as the demand for secure and private transactions continues to increase. Polychain Capital, a well-known investor in cryptocurrencies and blockchain startups, also sees the value in investing in hardware startups that apply this technology. It is expected that this seed round investment in Cystic will help the company accelerate its research and development for Zero-Knowledge hardware.

In addition to Polychain Capital, Cystic also secured funding from other investors, including Hashkey, SNZ Holding, ABCDE and Web3.com Foundation. These investors represent a growing interest in the Zero-Knowledge space and investments from them help to validate the value and potential of Zero-Knowledge technology in the long run.

In conclusion, Cystic’s latest seed funding round announcement is a significant development for the Zero-Knowledge hardware market, which shows that investors are recognizing the value of leveraging Zero-Knowledge technology in hardware devices. It is expected that this increased investment in Zero-Knowledge hardware will spur innovation, further development of these technologies, and eventually help to bring new levels of privacy and security to digital transactions and communications.

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Cystic Completes $6 Million Seed Funding Round Led By Polychain Capital

Zero-knowledge hardware startup Cystic completed $6 million seed round financing

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