Modulus, a business led by Variant and 1kx that aims to bring AI on-chain through zero-knowledge cryptography, has raised $6 million in funding. The Blockchain Builders Fund at Stanford University took part in the round as well. Without compromising decentralization, Modulus seeks to enable AI developers to confirm that their tools are operating as intended through the use of zero-knowledge proofs. Additionally, the business has disclosed its intentions to collaborate with Worldcoin.
The Boston-based software development company Toposware raised $5 million in a different investment round headed by Evolution Equity Partners. In an effort to draw developers to the field of zero-knowledge cryptography, Toposware is developing the “zkEcosystem”.
Along with the worldwide general manager of IBM and the director of infrastructure at Meta, co-founder of Polygon Sandeep Nailwal is named as a member of Toposware’s advisory board and took part in the investment round.
Other noteworthy fundraises include the $50 million that Hong Kong-based Animoca Brands received to support Saudi Web3 development from a fund owned by the Public Investment Fund of Saudi Arabia, and the $12 million that the Ekubo Protocol automated market maker (AMM) is expected to raise from Uniswap’s DAO following an initial community token vote. According to reports, the tech investment giant a16z wants to raise $3.4 billion for its upcoming venture fund round, and in 2025, it aims to launch new cryptocurrency investment vehicles.