Zero-knowledge proofs startup Succinct Labs announced it has raised $55 million in a seed and Series A financing round led by Paradigm.

Other investors participating in the round include Robot Ventures, Bankless Ventures, Geometry, ZK Validator, as well as Polygon co-founders Sandeep Nailwal and Daniel Lubarov, and EigenLayer founder Sreeram Kannan, according to a statement.

A zero-knowledge proof allows one entity to prove something is true without revealing details about what they know.

"ZK proofs are one of the most critical technologies to blockchain scaling, interoperability and privacy, but are too complex for most developers today," the statement also said. "Succinct’s mission is to lower this barrier with our zkVM, SP1, and our decentralized prover network."

Succinct Labs's …