Webb Protocol closes Polychain-led financing round

Presented as a multi-channel technology allowing to transfer privately from digital assets, Webb Protocol has just collected 7 million dollars from crypto VCs Polychain and Lemniscap.

Based in New York, Webb is a startup that builds infrastructure from digital asset transfers axed privacy and based on Zero-Knowledge and Multi-Party Computation (MPC) solutions.

Its product Webb Protocol is a system said to be interoperable and dedicated to asset transfers between several blockchains. The protocol aims to offer a “new standard of confidentiality ” for multi-channel applications.

This week, Webb has announced that it has raised 7 million dollars in a financing round led by Polychain and Lemniscap. Zeeprime and CMS Holdings also participated in the deal, according to a statement.

At Webb, we want to optimize the blockchain ecosystem experience while maintaining the highest privacy standards. Our blockchain infrastructure and privacy protocols are designed to work seamlessly across different chains and applications,” said Drew Stone, the company’s founder.

According to Webb, given the frequency with which assets are transferred across different blockchains, data privacy can be easily compromised by different attack vectors.

“With the proliferation of new and emerging blockchain protocols, the importance of cross-chain privacy has never been so pronounced,” commented Roderik van der Graaf of Lemniscap.

The American start-up is now planning to extend the capacity of its protocol to a inter-channel messaging system.

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