zkMe raises $2M in pre-seed funding

zkMe, a Hong Kong-based zero-knowledge Identity Oracle provider, raised $2M in Pre-Seed funding.

Backers included Circle Venture, Spartan Group, CMS Holdings, Fenbushi Capital, NGC Ventures, Arkstream Capital and other venture capital firms. 

The company intends to use the funds to complete testing and onboard customers on mainnet within a month.

Led by Alex Scheer, CEO, zkMe enables users to selectively disclose their credentials to authorized parties, without compromising their privacy, granting them full control over their digital identities. The protocol has potential use cases in various industries, including anti-sybil protection for fair airdrops, anonymous web data attestation for GameFi integrations, and private KYC compliance for DeFi. With the SSI mobile app developed by zkMe, users can encrypt and anonymize their data and prove claims on their own device using ZKPs. This ensures that no one processes their personal identifiable information besides themselves. The ZKPs are verified by a network of MPC nodes before being minted onto the user wallet as an SBT.

Source: FinSMEs

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