ZK project Hylé raises $2.6 million in funding round led by Framework Ventures | Headlines | News | CoinMarketCap

05/14/2024 19:25
ZK project Hylé raises $2.6 million in funding round led by Framework Ventures | Headlines | News | CoinMarketCap

Zero-knowledge project Hylé raised $2.6 million in fresh financing led by the venture firm Framework Ventures. Cherry Crypto, Fabric Ventures, First …

Zero-knowledge project Hylé raised $2.6 million in fresh financing led by the venture firm Framework Ventures.

Cherry Crypto, Fabric Ventures, First Capital and Heartcore Capital also participated in the round. Hylé’s total initial funding to date is $3.4 million, with an additional $1.5 million in revenue from their NFT project briqNFT, the firm's co-founder Sylve Chevet told The Block. Hylé's board of directors will not change. 

Hylé builds out the Hylé network, which uses zero-knowledge proofs (ZKP) for scalability and privacy. Hylé wants to be the core layer for the modular ZK tech stack, according to a release shared with The Block. The Hyle network runs its own consensus mechanism and is purpose-built for ZKP verification, offering developers and users options for what suits …

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