September 17, 2024
Fermah, a developer of a universal proof generation layer, has secured $5.2 million in seed funding. The funding round was co-led by the a16z Crypto Startup Accelerator (CSX) fund and venture capital firm Lemniscap, with additional contributions from Bankless Ventures, Longhash Ventures, P-OPS team, Public Works, ZK Validator, Lambda Class, Daedalus, Zero DAO, Velocity Capital, Daemon Ventures, and angel investors such as Balaji Srinivasan and Sandeep Nailwal.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Fermah | $5.2M | September 17, 2024 | Seed Round | a16z CSX fund and Lemniscap | ZK |
Fermah’s goal is to address challenges related to zero-knowledge (ZK) proofs by serving as a marketplace for ZK proof generation. They aim to create proofs for ZK rollups, ZK bridges, and other applications using cost-effective and dependable infrastructure. The funds will be used to expand their team in marketing, engineering, and other areas, as well as to enhance their product offerings.
About Fermah
Fermah is a platform designed to simplify the creation of zero-knowledge (ZK) proofs, which are essential for various blockchain applications. Acting as a marketplace, Fermah connects users needing ZK proofs with machines like GPUs and FPGAs that generate these proofs efficiently. This setup ensures that ZK proofs are produced quickly, reliably, and at a lower cost. Fermah supports a wide range of ZK applications, including ZK rollups and ZK bridges, making it a versatile solution for developers. The platform aims to make ZK proof generation more accessible and affordable, helping to advance the use of this technology in the blockchain space.
Website: https://www.fermah.xyz/
About Investor
The funding round was co-led by the a16z Crypto Startup Accelerator (CSX) fund and venture capital firm Lemniscap, with additional contributions from Bankless Ventures, Longhash Ventures, P-OPS team, Public Works, ZK Validator, Lambda Class, Daedalus, Zero DAO, Velocity Capital, Daemon Ventures, and angel investors such as Balaji Srinivasan and Sandeep Nailwal.
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