Masa Network Secures $5.4 Million in Seed Funding to Develop Decentralized Data Platform on Avalanche
Crypto News – Masa Network, a blockchain startup, has successfully raised $5.4 million in a seed funding round, with a primary focus on establishing a decentralized network on the Avalanche blockchain, specifically dedicated to safeguarding users’ personal data.
The investment round was spearheaded by Anagram, a prominent venture capital firm co-founded by Lily Liu, known for her association with the Solana Foundation, and Joe Eagan, previously associated with Polychain. This funding initiative also attracted notable investors, including the Avalanche Blizzard Fund, Digital Currency Group, and GoldenTree, among others.
Masa Network‘s core objective is to construct a robust data platform that empowers users to contribute their personal data while receiving compensation in the form of Masa’s native cryptocurrency. Developers will have the opportunity to access this data for AI model training and application development while maintaining stringent user privacy protection. These privacy measures will be facilitated through the integration of advanced encryption technologies, prominently featuring zero-knowledge proofs.
This recent seed funding round follows Masa’s successful pre-seed funding round in 2022, where they secured $3.5 million. In total, Masa Network has now amassed approximately $9 million in capital.
The secured funds will be strategically utilized for the imminent launch of Masa’s subnet on the Avalanche blockchain later this year. This blockchain will be fully customizable to efficiently manage large volumes of zero-knowledge encrypted data.
Leave a comment