[Funding alert] Crypto Startup NEBRA Secures $4.5Million in a combined Pre-Seed/Seed Round Funding

Some angel investors included Tim Beiko from the Ethereum Foundation, Kartik Talwar from ETHGlobal, Nick White from Celestia, Sandy Peng, and Haichen Shen from Scroll. NEBRA is a research and development organisation that focuses on strategies for the privacy and scaling of blockchain technology through zero-knowledge proofs.

As a member of the London-based CSX Spring 2024 cohort, NEBRA has also been awarded funding by the a16z Crypto Startup Accelerator.

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The money will be utilised to advance ZKP technology and investigate the Shared Settlement Layer (SSL) of the future internet, with the goal of reducing the high cost of proof settlement on Ethereum and other blockchains.

On-chain privacy is a critical component for blokchain scalability, and zero-knowledge proofs show promise in this regard. However, these technologies frequently prove to be unaffordable, with petrol fees alone costing Ethereum ecosystem users more than $50 million.

UPA showed incredible endurance in the face of a demanding stress test in 2023, processing one million proofs in less than 36 hours, or 10 proofs per second, with an average verification latency of only two minutes.

Dan Elitzer, co-founder said, "Just as Google revolutionized information access by aggregating internet data, and Uber transformed urban mobility by aggregating transportation resources, NEBRA is pioneering a new approach to bring economy of scale in blockchain ZKP settlements,".

About NEBRA

NEBRA was Established in 2008 as Raamaudio UK Ltd, a hobby automobile audio company, it changed its name to Pi Supply in 2012. After founder Aaron Shaw received his first Raspberry Pi in 2012, the business took a different turn. Pi Supply is a global retailer of maker items and the developer of inventive accessories for the Raspberry Pi minicomputer.