Summary
- Zcash (ZEC) ecosystem development group ZODL said it has raised a seed round of more than $25 million.
- The round included major institutional and individual investors such as Paradigm, a16z crypto, Winklevoss Capital and Coinbase Ventures, it said.
- ZODL said it plans to pursue ecosystem expansion and build a privacy finance platform centered on the Zcash protocol and its wallet platform Zodl.
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Zcash (ZEC) ecosystem development group Zcash Open Development Lab (ZODL) has raised a seed investment of more than $25 million.
On the 9th, ZODL said on X (formerly Twitter) that it had secured more than $25 million in funding. Investors in the round included Paradigm, a16z crypto, Winklevoss Capital, Coinbase Ventures, Cypherpunk Technologies, Maelstrom and Chapter One. Individual investors including Balaji Srinivasan, David Friedberg and Haseeb Qureshi were also named among the backers.
ZODL was founded by Josh Swihart, former chief executive officer (CEO) of Electric Coin Company. He previously led the launch of the Zcash wallet “Zodl” (formerly Zashi). The wallet is seen as critical infrastructure for improving Zcash usability.
Alongside Zcash protocol development, ZODL is pursuing ecosystem expansion centered on its wallet platform, Zodl. In particular, it plans to expand Zcash shielded transactions through various partnerships, with the goal of building an open-source, self-custodial privacy finance platform.
With the new funding, ZODL plans to scale hiring and expand technology development. The company said the investment “reflects investors’ confidence in privacy technology and the growth of the Zcash ecosystem.”
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
