Webb Protocol, a cutting-edge privacy system dedicated to cross-blockchain asset transfers, has successfully raised $7 million in funding. The investment round was spearheaded by Polychain and Lemniscap, with additional participation from Zeeprime and CMS Holdings.
The newly acquired funds will be utilized to expand the company’s workforce, accelerate the development of innovative privacy tools and protocols – such as Zero-Knowledge and Multi-Party Computation (MPC) solutions – and create the most privacy-focused and efficient user experience.
Under the leadership of Founder and CEO Drew Stone, Webb Protocol aims to develop an interoperable zero-knowledge proof-based system for the private movement of assets between different blockchains. The company also plans to extend this capability to a cross-chain messaging system with zero-knowledge-based property testing for data stored within the system.
With established offices in New York, Tel Aviv, Cairo, and Miami, Webb Protocol has already built a strong global presence. The company is now set to embark on an extended period of international expansion, further solidifying its position as a leader in the blockchain privacy space.
