TechFlow reports that Mind Network, a fully homomorphic encryption (FHE) infrastructure provider, has announced the completion of a $10 million Pre-A funding round. Investors include Animoca Brands, Arkstream Capital, Cogitent Ventures, G Ventures, MH Ventures, Master Ventures, Moonhill Capital, SwissBorg Ventures, and IBC Group. Notable angel investors such as Mike Silagadze, CEO of Ether.fi, also participated.
Mind Network stated that the funds will be used to advance FHE technology applications and expand the security boundaries of decentralized networks, particularly in AI and Proof-of-Stake (PoS) networks.
The company recently launched its MindV solution, which introduces an FHE-based voting mechanism designed to ensure consensus and data security in AI and PoS networks.
Users can obtain $vFHE by holding staked assets and participate in network consensus and FHE voting.
Previously, the company received support from Binance Labs, Hashkey, Big Brain, and Chainlink, and was awarded a grant from the Ethereum Foundation for its FHE research.
