The Web3 startup Nillion, which aims to create a decentralized network, announced exclusively to TechCrunch that it has received more than $20 million in funding.
What Does Nillion Want To Do?
The startup wants to introduce a brand new internet infrastructure to protect data computing and storage. However, Miguel de Vega, the team’s chief scientist, has developed a mathematical technique called Nil Message Compute (NMC), which is used in the initiative’s decentralized network. The company refers to NMC as a “new cryptographic primitive” in its white paper. Which actually roughly means “new technique of storing and preserving things”.
About the Funding Round
Distributed Global took the lead on the tour. Names such as AU21, Big Brain Holdings, Chapter One, GSR, HashKey, OP Crypto, and SALT Fund were among other investors. According to Nillion CEO Alex Page, more than 150 investors took part in the financing in a “conscious decision” to avoid concentrated ownership.
About Nillion
The enterprise, which has more than 40 employees, was founded in November 2021. Up to this point, they have carried out their activities without receiving funding. The founders include former employees of Uber, Indiegogo, and Hedera Hashgraph, as well as Coinbase and Nike executives.
References
www.techcrunch.com
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