Privacy startup Ola raises $3 million in seed funding

Ola, a privacy-focused web3 startup, raised $3 million in seed funding. 

Web3.com Ventures and Foresight Ventures co-led the round. Additional support came from Token Metrics Ventures, LD Capital, Catcher VC and others.

Ola experiments with a hybrid zero knowledge rollup called "ZK-ZKVM" that aims to offer optional privacy in the crypto industry.

"Our ultimate goal is to make privacy a fundamental right in the digital age, especially for web3 users," Ola CEO Ocean Chen said in a statement. "With Ola's full-featured ZK-ZKVM, developers can harness the potential of privacy-centric applications that prioritize user control and data protection."

Ola is currently not available to the public. It intends to launch a beta testnet in the third quarter and release a public testnet by the end of 2023.