Web3 Privacy Firm Ola Raises $3 Million in Seed Funding

Web3 Privacy Firm Ola Raises $3 Million in Seed Funding

Web3.com Ventures and Foresight Ventures co-led the funding round for Ola, a privacy-focused web3 startup, raising $3 million. Token Metrics Ventures, LD Capital, Catcher VC, and others also participated in the round.

Ola aims to enhance privacy in the crypto industry through its hybrid zero knowledge rollup, known as “ZK-ZKVM.” The technology offers optional privacy features, empowering web3 users with control over their data.

CEO Ocean Chen stated, “Our ultimate goal is to make privacy a fundamental right in the digital age, especially for web3 users.” Ola’s full-featured ZK-ZKVM enables developers to create privacy-centric applications that prioritize user control and data protection.

Currently, Ola is not publicly available. The company plans to launch a beta testnet in the third quarter of this year and intends to release a public testnet by the end of 2023.

About Ola

Ola, a web3 startup with a strong focus on privacy, has recently secured $3 million in seed funding. The funding round was jointly led by Web3.com Ventures and Foresight Ventures, with participation from Token Metrics Ventures, LD Capital, Catcher VC, and other investors.

The core mission of Ola is to ensure privacy becomes a fundamental right in the digital age, particularly for web3 users. The company is actively exploring the potential of a hybrid zero-knowledge rollup called “ZK-ZKVM,” which introduces optional privacy features within the crypto industry. By leveraging this technology, developers can create applications that place user control and data protection at the forefront.

As of now, Ola’s services are not available to the general public. However, the company has ambitious plans to launch a beta testnet in the third quarter and subsequently release a public testnet by the end of 2023. These milestones will enable users and developers to experience Ola’s privacy solutions firsthand and provide valuable feedback.

With the infusion of seed funding and the ongoing development of its innovative privacy technology, Ola strives to establish itself as a key player in the web3 ecosystem. The company aims to contribute significantly to advancing privacy standards within the crypto industry, ensuring a more secure and confidential digital environment for all users.