Nym Technologies Raises $300 Million

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Privacy-focused project Nym has recently attracted $300 million from a number of venture capital firms in a fund focused on funding ecosystem developers, The Block reports.

The company has received investments from Polychain, Greenfield One, Huobi Incubator, Tioga Capital, Eden Block, NGC Ventures, HashKey Capital, Figment, Fenbushi Capital, OKX Blockdream Ventures, Tayssir Capital, KR1, Lemniscap and a16z.

The Nym Foundation has reported that the funds will be used depending on the needs. Grants will range from $50,000 to “several million dollars”. Applications will begin in May.

Nym CEO Harry Halpin has said:

“$300 million is a drop in the bucket compared to the endless sums of money in Silicon Valley and nation states that benefit from mass surveillance.”

Nym provides the infrastructure to ensure the privacy of personal data. The nodes of an open source decentralized platform (mixnet) “mix” user traffic, excluding the disclosure of metadata.