The new funding will fuel the development of Mind Network's FHE infrastructure, while also expanding the scope of the MindV FHE Voting solution for AI and PoS networks.
Web3 data storage solution Mind Network Capital $10 million
Mind Network, a data storage and security solution for the Web3 sector, recently announced that it has successfully raised $10 million in a Pre-A Capital round.
Leading investors participating in the Capital include Animoca Brands, Arkstream Capital, Cogitent Ventures, G Ventures, MH Ventures, Master Ventures, Moonhill Capital, SwissBorg Ventures, IBC Group , and many more.
The Capital round also saw participation from prominent angel investors such as Mike Silagadze (CEO of ether.fi ), along with crypto industry influencers such as Mario Nawfal, MrBlock, and Kyle Chassé .
Christian Pusateri, Co-Founder and CEO of Mind Network, said that the new investment will fuel the development of their FHE (Fully Homomorphic Encryption) infrastructure, while also further expanding the limits of MindV - an FHE Voting solution to ensure consensus and data security for AI and Proof-of- Stake (PoS) networks.
Binancle Labs-backed Mind Network has raised $10M in a Pre-A funding round @mindnetwork_xyz has secured $10M in a Pre-A funding round. Other investors in the round include @AnimocaBrands , @ark_stream , @CogitentV , G Ventures, @MH_Ventures , @buildwithMV , @moonhillcap , @SwissborgV ,… pic.twitter.com/lcyQYLVTzZ
— TOP 7 ICOs | #StandWithUkraine🇺🇦 (@top7ico)September 27, 2024
Mind Network is a decentralized data repository that enhances data security for the Web3 industry by applying Zero Trust principles and advanced cryptographic techniques. The platform provides users with end-to-end encryption, allowing them to control their personal data, financial transactions, and user interactions.
Mind Network is the first Fully Homomorphic Encryption (FHE) layer for AI and PoS networks. It accepts reStaking Token from ETH, BTC, and blue-chip AI Token , acting as an FHE validator network, providing consensus, data, and cryptoeconomic security for decentralized AI, DePIN , EigenLayer , Symbiotic , and many other important PoS networks.
Fully Homomorphic Encryption (FHE) technology allows computations to be performed directly on encrypted data without decryption, providing superior security features for voting systems in blockchain ecosystems.
After receiving this investment, Mind Network plans to expand its operations by integrating more Staking protocols and continuing to release supporting infrastructure. Users holding Staking assets from partner protocols can redeem $vFHE on Mind Network and participate in the FHE voting system.
This is Mind Network's second fundraising round, bringing the total funding to $12.5 million. Previously in June 2023, Mind Network completed a Seed Capital round of $2.5 million with the participation of Binance Labs , Hashkey Capital , SevenX Ventures, Big Brain Holdings...
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