Zero-knowledge hardware startup Cystic completed $6 million seed round financing
It is reported that the Zero-Knowledge (ZK) hardware start-up Cystic has completed a seed round financing of US $6 million. This round of financing is led by Polychain Capital, and other investors include Hashkey, SNZ Holding, ABCDE and Web3.com Foundation.
Interpretation of this information:
The news of Cystic’s completion of a seed round financing of US $6 million has been reported. This round of financing was led by Polychain Capital, which is one of the most prominent blockchain investment firms. Other investors who participated in this funding round include Hashkey, SNZ Holding, ABCDE, and Web3.com Foundation.
Cystic is a Zero-Knowledge (ZK) hardware startup that is focused on providing privacy solutions for the blockchain and cryptocurrency industry. The company aims to enable secure data transfer and storage by using cutting-edge cryptography and hardware innovations.
The funding raised by Cystic will be used to further develop its technology and grow its team. The company will focus on expanding its market reach by partnering with industry stakeholders and expanding its sales channels. Cystic aims to become a leading player in the privacy and security segment of the blockchain industry.
Polychain Capital’s involvement in this funding round is significant as it is a respected blockchain investment firm with a proven track record of identifying and investing in successful blockchain startups. The firm has invested in several promising startups over the years, including the popular cryptocurrency exchange Coinbase.
Hashkey and SNZ Holding are also notable investors in this funding round. They are both firms that have a strong presence in the blockchain and cryptocurrency industry, and their investment in Cystic is a clear indication of their confidence in the company’s technology and business model.
In conclusion, Cystic’s completion of a seed round financing of US $6 million is a positive development for the company and the blockchain industry. The company’s focus on providing innovative privacy solutions has attracted some of the most prominent investors in the industry. With this funding, the company is well-positioned to achieve its goals and become a leading player in the blockchain privacy and security segment.
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