Polyhedra Network Closes $20 Million Strategic Funding Round, Raising Its Valuation to $1 Billion
Summary
, /PRNewswire/ --\xc2 Polyhedra Network, the team behind zero-knowledge interoperability protocol zkBridge, today announced the closing of a strategic funding round, valuing the company at . "The founding team, who met while studying cryptography and finishing their respective\xc2 Ph.D. programs, quickly realized that zero-knowledge proofs offer a way to share information between networks that align with blockchains core ethos of decentralization. Since its founding, members of the Polyhedra Network team have authored over a dozen academic papers with findings that improve the performance of zero-knowledge proofs and open up applications previously thought impossible. "\xc2 Luke Pearson, at Polychain Capital.Polyhedra Network is building the next generation of secure, interoperable, and scalable Web3 infrastructure with advanced zero-knowledge proof technology. The team has developed and deployed several next-generation zk-SNARK protocols resulting in performance improvements orders of magnitude faster than existing solutions.