According to Blockworks, Modulus, a startup focused on using zero-knowledge cryptography to bring AI on-chain, has raised $6 million in a funding round led by Variant and 1kx. Stanford University's Blockchain Builders Fund also participated in the round. Modulus aims to use zero-knowledge proofs to allow AI developers to verify that their tools are functioning correctly without sacrificing decentralization. The company has also announced plans for a partnership with Worldcoin.
In a separate funding round, Boston-based software development firm Toposware secured $5 million, led by Evolution Equity Partners. Toposware is working on its "zkEcosystem" to attract developers to the zero-knowledge cryptography space. Polygon co-founder Sandeep Nailwal participated in the funding round and is listed as a member of Toposware's advisory council, along with Meta's director of infrastructure and the global general manager of IBM.
Other notable fundraises include Hong Kong-based Animoca Brands receiving $50 million from a fund owned by Saudi Arabia's Public Investment Fund to boost Saudi Web3 development, and the Ekubo Protocol automated market maker (AMM) is set to raise $12 million from Uniswap's DAO after an initial community token vote. Tech investment giant a16z is reportedly aiming to raise $3.4 billion for its next round of venture funds, with plans for new crypto investment vehicles in 2025. Base's Surf derivatives exchange raised $3 million from ABCDE and others to support its creation of the "contracts based version of Uniswap."
