Closing of our seed round
We have closed our seed fundraising! The funding round is backed by KR1, Alameda Research, IOSG Ventures, Divergence Capital and Genesis Block Ventures.
Since we announced Automata Network, we’ve been overwhelmed by the strong show of support and people who have reached out to be involved in one way or another.
Today, we’re pleased to share the news of our USD$1 Million seed raise, jointly led by KR1, Alameda Research, IOSG Ventures, Divergence Capital and Genesis Block Ventures. We will like to take a moment to share a bit about why we’re working on Automata and why it’s so important for us, as well as what’s next for the community.
Vision
“… Privacy services like Automata form a crucial element in the vision of a fully decentralised web and allow developers and their users to finally take back control. With services such as front-running prevention for traders, anonymous voting, tamper proof data sources for oracles and speedy cross chain transactions, we see Automata as a key infrastructure piece in the emerging Web 3.0 stack…”
Keld van Schreven, Managing Director and Co-Founder of KR1
As Web 3 continues to mature, communities will no longer contend with a restrictive or dated user experience. Privacy is not just an ideological shift so much as it is a utilitarian one. How do we produce this utility then?
This is why we are building Automata, a permissionless protocol that empowers today’s dApps with seamless privacy and high assurance, designed for non-intrusive integration. Besides our strong technical approach — being the first in the industry to introduce state-of-the-art Oblivious RAM to ensure shielded and unbiased computation — we want to make sure that the focus on privacy is made without various tradeoffs in functionality or usability. One of our key differentiators is the ability to capture the immediate market demand for privacy-preserving applications without having to rewrite them.
Team
The problems that we are addressing will be foundational to the future of Web3, and we are assembling some of the best people within the industry to make it happen. Across the board, our team comprises of serial entrepreneurs, award-winning researchers and cryptographers, including previous founding members of Zilliqa.
Progress
In 2020, we were a recipient of the Web3 foundation grant, and was selected to join the inaugural Web 3.0 bootcamp. At the moment, our Testnet is running and we’ve built early-access for some of our use cases, including Witness, an anonymous voting service. If this sounds like something you’re excited about, reach out to us at team@ata.network.
We’re on the cusp of a decentralised future. Join us.
