Oct Logo
Search Icon
Oct Logo
Search Icon
Bitcoin iconETH
$0000
arrow icon0.61%
VLayer Raises $10M in Pre-Seed Funding to Advance Smart Contract Technology

VLayer Raises $10M in Pre-Seed Funding to Advance Smart Contract Technology

VLayer, a blockchain infrastructure startup, has announced a $10 million pre-seed funding round led by a16zcrypto.

Image of Sahil ThakurSahil ThakurNews

Nov 5, 2024

Written By Sahil Thakur

Author: Sahil Thakur

Written On: Tue, 05 Nov 2024 04:42:39 GMT

VLayer, a blockchain infrastructure startup, has announced a $10 million pre-seed funding round. This funding was led by major venture capital firms, including a16z crypto, Credo Ventures, and Blocktower VC. Key supporters also include tech builders from Aztec Protocol, World, and Eleven Labs. The funds are to support VLayer’s mission to transform decentralized applications through advanced cryptography and verifiable data.

  • Funding Milestone: VLayer raised $10 million from prominent investors, marking a significant step forward in its mission.
  • Innovative Tech: The company introduced four new Solidity functions, enhancing Ethereum’s capacity with features like Time Travel and zkEmail.
  • Team Expertise: VLayer’s founding team brings experience from high-impact tech startups, with backgrounds in AI and blockchain development.

Founded nine months ago, VLayer has rapidly advanced toward creating infrastructure that connects on-chain and off-chain systems. Its open alpha, built by a team of over 20 experts across the US, UK, and Poland, demonstrates how smart contracts can operate with verifiable data. “This milestone reflects more than just funding—it validates our mission to empower developers with the tools they need to create applications that connect seamlessly with the real economy,” the company announced.

Building on Industry Experience

VLayer’s founders, Hubert and Marek, bring decades of experience in centralized and decentralized systems. Hubert, a co-founder of the fraud prevention startup Nethone, observed the limitations of centralized data handling. This experience led him to explore decentralized solutions that reduce dependency on trust and eliminate bottlenecks. Marek, who founded Ethworks and El Passion, is an expert in developer tools and team building. His work includes creating Waffle, a popular framework for Solidity projects.

This unique background has driven VLayer’s focus on bridging blockchain with the real world. “Our mission is to provide tools that allow seamless, verifiable interactions between on-chain and off-chain systems,” the founders explained.

Extending Ethereum’s Capabilities

VLayer’s recent open alpha release introduces four new Solidity functions:

  • Time Travel: Enables smart contracts to access historical on-chain data.
  • Teleport: Allows cross-network contract execution across EVM-compatible chains.
  • Web Proofs (zkTLS): Verifies and integrates web content for blockchain use.
  • Email Proofs (zkEmail): Provides access to and verification of email content.

These tools enhance the versatility of smart contracts by allowing them to interact with off-chain data sources. The functions leverage Zero Knowledge Proofs (ZKPs) and Multi-Party Computations (MPC), creating a secure and verifiable data layer.

Addressing Emerging Needs in Decentralization

VLayer is focused on meeting the growing demand for verifiable, trustless data as AI and decentralized applications evolve. Through its platform, developers can securely use private data without compromising on usability or experience. The startup envisions a future where decentralized applications are seamlessly integrated with real-world data, ultimately supporting the growth of the decentralized internet.

As VLayer completes its a16z crypto accelerator program in New York City, the company mentioned they are eager to invite developers to participate in its open alpha. The founders believe that by combining cryptographic innovation with practical tools, VLayer can help bridge Web2 and Web3, enabling developers to build decentralized applications that are both functional and reliable.

Trusted

Our Crypto Talk is committed to unbiased, transparent, and true reporting to the best of our knowledge. This news article aims to provide accurate information in a timely manner. However, we advise the readers to verify facts independently and consult a professional before making any decisions based on the content since our sources could be wrong too. Check our Terms and conditions for more info.

In this article

Building on Industry Experience

Extending Ethereum’s Capabilities

Addressing Emerging Needs in Decentralization

Hero Image
Share with your community!
FacebookXLinkedIn
Hero Image
Share with your community!
FacebookXLinkedIn

Related reads