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Writer's pictureJean D

Brevis Network, a Smart ZK Coprocessor for Blockchains, Raise $7.5m from Polychain and Binance Labs

Brevis Network

November 11, 2024 


Brevis Network, a blockchain startup focused on improving scalability through zero-knowledge (ZK) technology, has raised $7.5 million in a seed funding round. The round, which concluded in September 2024, was co-led by Polychain Capital and Binance Labs, with additional support from IOSG Ventures, Nomad Capital, Bankless Ventures, Hashkey, and several undisclosed angel investors. This funding aims to propel Brevis' mission to enhance blockchain efficiency by offloading computational tasks from the blockchain.


Brevis Network’s ZK coprocessor enables off-chain computations to reduce blockchain workload and costs. Using ZK proofs, it processes complex tasks off-chain and returns only verified proofs, overcoming blockchain smart contract limitations. Now in beta mainnet, Brevis is integrated into DeFi platforms like Kwenta, JoJo Exchange, and Trusta, and is expanding its decentralized prover network for broader participation in processing workloads.


With a growing presence in the DeFi sector, Brevis competes with other ZK technology providers such as Axiom, RISC0's Steel, and Vlayer. However, Brevis distinguishes itself by having an operational product while most competitors remain in development. The startup is also working on its SpaZK Verifiable AI product, expected to be released in future phases. Currently based in Singapore, Brevis employs 12 people and is actively seeking to expand its team, particularly in marketing and research and development.


About Brevis Network


Brevis Network is a blockchain technology company specializing in ZK-powered off-chain computations. The company’s ZK coprocessor enables more blockchain smart contracts by offloading complex tasks and reducing the computational burden on the blockchain. Brevis partners with various DeFi protocols and aims to improve scalability and reduce latency in blockchain networks.


X: @brevis_zk

 

About Investors


Polychain Capital

Founded in 2016, Polychain Capital is a venture capital firm specializing in blockchain and cryptocurrency investments. Polychain has backed some of the industry's leading projects and aims to support the growth of blockchain technologies and decentralized applications.

Location: San Francisco, California 

 

Binance Labs 

Binance Labs is the venture capital arm of Binance, focusing on investing in innovative blockchain projects across various sectors. Binance Labs seeks to support the development of the blockchain ecosystem by funding early-stage projects and fostering their growth.


Location: Hong Kong


A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.


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