ZK proof startup Ulvetanna raises $15 million in seed funding

Ulvetanna, a startup building hardware to increase the efficiency of zero-knowledge-proof generation, raised $15 million in seed funding.

Ulvetanna, a startup that builds hardware to increase the efficiency of zero-knowledge-proof generation, raised $15 million in seed funding.

Ulvetanna, a zero-knowledge-proof hardware firm, closed a $15 million seed round led by Bain Capital Crypto and Paradigm. The round, which Jump Crypto also participated in, valued the startup at $55 million, according to Ulvetanna's founder and CEO Radisav Cojbasic. "Web3 infrastructure is the first innovative tech in recent history that requires hardware acceleration on day one," Cojbasic said."

To increase efficiency, Cojbasic said that Ulvetanna's team — which includes programmers and engineers from Coinbase, Microsoft and Intel — will leverage its cryptographic knowledge with specifically designed hardware to accelerate proof production.

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