Enphyr, a Hong Kong-based provider of a Layer 2 solution that is built on the Ethereum network, raised $1M in Seed funding; at a $10 million valuation.

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Enphyr, a Hong Kong-based provider of a Layer 2 solution safeguarding data privacy and enhancing blockchain capabilities that is built on the Ethereum network, raised $1M in Seed funding; at a $10 million valuation. The round was led by Waveslab Ventures with participation from private investors. The company intends to use the funds to grow its team, explore strategic partnerships, as well as enhance its engineering initiatives to accelerate its roadmap to facilitate additional use cases through the utilization of its protocol infrastructure. Enphyr provides technology that makes possible projects to leverage Ethereum’s security to build applications through data privacy, data tokenization and blockchain-powered KYC verification.

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