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Succinct, a Company With a Focus On Zero-Knowledge Proofs Raises $55M Led by Paradigm

Zero-Knowledge Proofs

March 21, 2024


Succinct, a company specializing in zero-knowledge (ZK) proofs, has raised $55 million in a Series A funding round led by Paradigm. The total funding includes participation from Robot Ventures, Bankless Ventures, Geometry, ZK Validator, and several angel investors, such as Sreeram Kannan from Eigenlayer, Sandeep Nailwal, Daniel Lubarov from Polygon, and Elad Gil.


Project

Latest Raise

Latest Raise

Stage

Total Raise

Category

Succinct

Mar 21, 2024

$55M

Series A

$55M

Blockchain


ZK proofs are essential for blockchain scaling, interoperability, and privacy but are currently too complex for many developers—succinct aims to simplify this with its zkVM, SP1, and a decentralized prover network.


Succinct’s infrastructure is already being used by projects like Celestia, Wormhole, Lido, Avail, Near, and Gnosis to build ZK-enabled applications. The company is actively hiring to further develop SP1 and prepare for the mainnet launch of its prover network.


About Succinct:

Succinct builds zero-knowledge infrastructure for developers. The company focuses on making ZK proofs more accessible by developing tools like zkVM and a decentralized prover network, enabling developers to easily create scalable, secure, and decentralized applications.


Website: https://succinct.xyz/ 

X Followers today: 15,532

X Followers 30 days ago: 12,930

X Follower change: 2,602 (+20.12%)

Succint Zero-Knowledge Proofs


About Investor

Investor: Paradigm

Paradigm is a venture capital firm investing in early-stage cryptocurrency and blockchain companies. They support the development of technologies that advance blockchain scalability, interoperability, and privacy.


Location:  United States


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