Mind Network raises $2.5M from Binance Labs and HashKey

Mind Networka start-up developing a platform dedicated to safety and the privacy from Web3 datahas just collected 2.5 million dollars.

Mind Network presents itself as a ” fully encrypted network “built on a Fully Homomorphic Encryption (FHE) framework to secure user data, smart contracts and “AI” in the Web3 ecosystem.

On Thursday, the London and Singapore-based start-up announced that it had raised 2.5 million dollars from several major crypto investors such as HashKey Capital, Big Brain Holdings, Arweave SCP Ventures and Binance Labs, the latter of which had already been supporting the project through its incubation program since summer 2022.

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Mind Network uses technologies such as Zero Trust Security and Zero Knowledge Proof to ensure the security and confidentiality of data on its platform.

We are honored to receive this significant funding, which will propel us to further develop our revolutionary technology and accelerate the widespread adoption of our platform across diverse industries. Our mission is to protect data privacy and ownership for users worldwide,” said ‘Mason’, a Mind Network spokesperson, in a statement.

In addition to the cryptocurrency exchange giant’s incubator, Mind Network boasts that it was recently selected to join the BUILD of the popular Chainlink blockchain oracle network.

Recognized players in the Web3 space are now leveraging Mind’s solutions, such as ethereum studio Consensys and decentralized storage protocol Arweave, according to the announcement.

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