Zero-knowledge platform Sindri closes $5 million seed round led by CoinFund
Quick Take
- Sindri, a zero-knowledge infrastructure platform, secured $5 million in a seed round led by CoinFund.
- The funding is meant to support Sindri in expanding its team, developer network and zero-knowledge-based developer stack.
Sindri, a zero-knowledge infrastructure platform, has closed a $5 million seed financing round led by CoinFund. The latest funding will be used by Sindri to scale its team, expand its developer network and build a comprehensive zero-knowledge-based developer stack. It follows a $2 million pre-seed funding in June 2022.
Sindri enables developers to verify data with zero-knowledge proofs, and use them for research use cases and in blockchain applications.
ZK proofs have gained significant traction in recent years, offering two types of use cases: enabling parties to verify cryptographic statements without disclosing specifics about the statement itself and improving the scalability of blockchains through efficient verification. Besides their use in blockchain, ZK proofs can also be used to verify data in machine learning or AI models — a concept called zkML.
“Zero-knowledge proofs are finding product market fit within the blockchain space in the form of blockchain scalability and interoperability technology, the intersection of web3 and AI, as well as off-chain computation for blockchains broadly,” said Jake Brukhman, CEO of CoinFund, regarding the investment in Sindri.
The platform is used by a diverse user base, including blockchain Layer 2s, zkML projects, ZK researchers and other organizations.
“We’re building in collaboration with some of the most forward-thinking teams and protocols in and outside of blockchain, and we’re excited to see them push the capabilities of their applications using Sindri,” said Stasia Carson, co-founder of Sindri.
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