September 10, 2024
Blocksense Network, a decentralized and permissionless protocol using Zero-Knowledge (ZK) rollup technology, has raised $4 million in seed funding. The round was led by Permutation, with contributions from notable investors such as a16z Crypto Startup Accelerator, Scott Moore’s Public Works, and Tykhe Block Ventures. This funding will speed up the development of Blocksense’s oracle network and enhance its ZK-rollup architecture.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Blocksense Network | $4M | September 10, 2024 | Seed Round | Permutation | ZK |
The announcement was made on X (formerly Twitter), where Blocksense Network outlined its plans to scale and optimize its technology stack with the new funds. By focusing on ZK-rollups and oracle infrastructure, the project aims to become a significant player in the evolving DeFi and blockchain scalability landscape.
The $4 million seed round is a significant milestone for Blocksense Network, offering the resources needed to boost its technical capabilities and broaden its adoption in the blockchain sector. The funds will mainly be allocated to scaling the development of Blocksense’s oracle network, essential for linking smart contracts with real-world data. Additionally, the investment will support research and development to improve the protocol’s ZK-rollup architecture.
About Blocksense Network
Blocksense Network is a decentralized protocol that uses Zero-Knowledge (ZK) rollup technology to efficiently create and manage oracle data feeds. This means it helps bring real-world data onto the blockchain in a secure and cost-effective way. By leveraging advanced cryptography, Blocksense ensures data accuracy and reduces the risk of manipulation.
Website: https://blocksense.network/
About Investor
Investor: Permutation
Permutation is a crypto investment and research firm, aims to catalyzing, bold & purposeful innovation.
Location: Montreal, Quebec
Website: https://www.permutation.co/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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