Web3 data security and privacy platform, Mind Network, has successfully closed a seed funding round, raising $2.5 million. The round attracted significant investors, including Binance Labs, the venture capital and incubation arm of Binance, and Comma3 Ventures, among others. Mind Network is dedicated to providing users with end-to-end encryption, ensuring full control over personal data and financial transactions. The company recently joined the Chainlink BUILD Program and participated in the Binance Incubation Program Season 5.
Other investors in the funding round included SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital, and more. The funds will be used to further develop the company’s technology and expedite the adoption of the platform across various industries.
Mason, the CEO of Mind Network, expressed gratitude for the investors’ support and confidence. He stated, “This funding will enable us to further advance our groundbreaking technology and expedite the adoption of our platform across various industries, ensuring global data privacy and ownership for our users.” Mind Network has established strategic partnerships with Chainlink, Consensys, Arweave, and other protocols, which have laid the foundation for the platform’s growth. These collaborations have helped the company gain early supporters, including global banks, insurance companies, and decentralized applications (dApps).
The project integrates various principles to ensure robust user protection, such as Zero Trust Security, Zero Knowledge Proof, and their proprietary Adaptive Fully Homomorphic Encryption techniques. For instance, the Zero Trust principles ensure that every request is explicitly authenticated and verified before access is granted, eliminating vulnerabilities associated with centralized infrastructures and providing a secure user environment.
Mind Network offers several products, including Mind Studio, Mind SDK, Mind Scan, and Mind Query. As a participant in the Binance Incubation Program Season 5 and the Chainlink BUILD Program, Mind Network is committed to establishing a Web3 ecosystem rooted in data privacy and ownership.
Oliver Birch, Global Head of Chainlink BUILD, expressed his excitement about welcoming Mind Network to their ecosystem. He noted, “Their innovative approach to data security aligns with our mission, and we eagerly anticipate collaborating with them to shape the future of decentralized applications.”