- Gevulot has successfully closed a seed round worth $6 million, with Variant leading the funding.
- The capital raised will be utilized to develop a first-level network that utilizes zero-knowledge evidence.
Gevulot, a startup in the crypto space, recently announced the completion of its seed round, raising $6 million. The funding was spearheaded by Variant, a prominent venture capital firm. Gevulot’s project team intends to launch an L1 network that is founded on zero-knowledge evidence.
The seed round also saw the participation of RockawayX, Volt Capital, and Staining Accommodations as additional investors. Additionally, prominent business angels, including Polygon Labs CEO Mark Buaroni and Manta Network founder Shumo Chu, contributed to the funding.
The exact valuation of the company remains undisclosed. The raised funds will be allocated towards the deployment of a first-level network that is built on zero-knowledge proof technology.
The project team has already launched a testnet for developers, aiming to stress test the network and ensure smooth integrations with partner applications. At the time of writing, the release date for the public testnet has not been announced.
In our previous reports, we highlighted that various crypto projects received a total of $214 million in investments during the week of January 22 to January 28, 2024. Incrypted regularly shares new materials in this section.