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Union - Seed
Overview
Funding Date
November 16, 2023
Financing amount
$4M
Valuation
--
Catagory
Subcategory
About Union - Seed
Blockchain interoperability developer Union Labs has raised $4 million in seed funding to build a bridge connecting different Layer 1 and Layer 2 networks with zero-knowledge (ZK) proofs. The investment was led by venture firms including Galileo, Semantic Ventures, Tioga Capital, and Nascent. Other investors in the round include Lightshift and Chorus One. The capital raised will be used for hiring and expansion efforts.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Corporate | Unknown | 2022 | 7 | -- | ||
| Fund | United Kingdom | 2017 | 23 | contact@semantic.vc | ||
| Fund | Luxembourg | 2019 | 16 | -- | ||
| Fund | United States of America | 2020 | 52 | hello@nascent.xyz | ||
| Fund | Portugal | 2021 | 7 | -- | ||
| Corporate | -- | 2018 | 16 | -- |
Founders & Team
Karel Kubat
Company Profile / Project Introduction
Union is a hyper-efficient, zero-knowledge interoperability layer that connects appchains, layer 1, and layer 2 networks. Unlike contemporary bridging solutions, Union does not grant relayers special authority, ensuring private keys are not a target for security hacks, as they cannot take control of the protocol. Messages are verified using ZK proofs instead.