TechFlow news, October 16 — According to The Block, Opacity Labs, the developer behind Opacity Network, announced on October 15 the completion of a $12 million seed funding round. The round was co-led by Archetype and Breyer Capital, with participation from a16z Crypto Startup Accelerator (CSX), Finality Capital Partners, Bodhi Ventures, and Escape Velocity (EV3).
Opacity Network is a data verification platform leveraging zero-knowledge proof technology. It enables users to prove certain data without revealing specific details—for instance, verifying income when applying for a mortgage without disclosing the exact amount. Technically, Opacity employs the zkTLS (zero-knowledge Transport Layer Security) protocol, combined with a multi-party computation (MPC) architecture and EigenLayer's Actively Validated Services (AVS).
Hersh Patel, co-founder of Opacity Labs, said the company began fundraising in July and closed the round last month. The financing was structured as a Simple Agreement for Future Equity (SAFE), including a valuation cap and token warrants. This round brings Opacity’s total raised capital to $13.4 million.
