TLDR:
- Humanity Protocol secures funding from top crypto VCs for Web3 ID solution
- Strategic investments from over 20 crypto venture capital firms
Humanity Protocol, backed by Polygon, has received funding from prominent crypto VCs for its privacy-focused Web3 identity solution. Key investors include Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital. The funding aims to support the development of Humanity Protocol’s technology, which focuses on establishing “Proof of Humanity” in Web3 applications through palm recognition and zero-knowledge proofs. The amount raised was not disclosed, but the investment will be utilized to ramp up development, scalability, and user accessibility for the platform.
Humanity Protocol plans to use the raised funds to enhance its digital ID solutions, emphasizing privacy, user control, and inclusivity. The goal is to create a secure and inclusive digital future for individuals, addressing concerns about data security and AI. The company’s founder, Terence Kwok, highlighted the importance of empowering humans through technology and praised the investors for supporting their vision. The upcoming launch of the testnet will allow global users to experience the technology firsthand, with a focus on scalability and efficiency. Notable participants in the fundraising round include Yat Siu and Sandeep Nailwal.
