Demox Labs raises $4.5M and launches its Leo crypto wallet

Demox Labsa startup developing a ZKP blockchain infrastructurehas collected 4.5 million dollars from HackVCOpenSea and Coinbase. At the same time, his Leo portfolio made his debut.

Founded in 2021 in the United States, Demox Labs is building a blockchain infrastructure for enterprises based on the cryptographic technique zero-knowledge proof (ZKP). The start-up has just launched Leoa wallet centered privacy and compatible with the L1 blockchain network Aleo.

🚀 Hey Leo Wallet Fam! 🦁 We’re thrilled to announce our new, revamped UI for Leo Wallet, built for @AleoHQ!
A huge shoutout to our incredible community whose invaluable input shaped this makeover! 🎉
Don’t wait – visit https://t.co/As89i3XGb9 and download the wallet now! pic.twitter.com/TRZ10y6egS

– Leo Wallet (@theLeoWallet) May 1, 2023

Demox Labs has, at the same time, announced that it has closed a financing round of $4.5 million led by New York-based venture capital firm HackVC. Other investors include Amplify Partners, Coinbase Ventures, CRV and OpenSea.

The funds raised will enable the Californian company to accelerate the development of its infrastructure and make it interoperable portfolio with others blockchain networks using ZKP. It also wants to deploy frameworks privacy-based frameworks for developers.

Leo Wallet is just one example of how ZKP will enable individuals to use modern technologies and maintain legal and regulatory compliance without sacrificing privacy,” said Demox Labs boss Barron Caster.

According to a release, Leo Wallet offers the possibility of generating ZKPs directly in a web browser to guarantee “total confidentiality “.

For HackVC’s director, the ZKP infrastructures will push users and businesses into a “new era of privacy “. “As the need for protection and privacy in the digital age increases, ZKPs will become a more important technology in many areas “he added.

Blockchain startups specializing in zero-knowledge proofs are attracting increasing amounts of capital. Last month, zkMe raised $2 million from Circle and Fenbushi, while zkLink, a multi-channel DEX, picked up a check for $10 million.

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