According to Odaily, Mind Network, a platform specializing in fully homomorphic encryption (FHE) and re-staking layers, has successfully raised $10 million in a Pre-A funding round. The investment was led by prominent firms including Animoca Brands, Arkstream Capital, Cogitent Ventures, G Ventures, MH Ventures, Master Ventures, Moonhill Capital, SwissBorg Ventures, and IBC Group. Additionally, individual investors such as ether.fi CEO Mike Silagadze, crypto influencers Mario Nawfal, Mr Block, and Kyle Chassé also participated in the funding round.
Mind Network plans to utilize the new capital to integrate more staking protocols and expand its business operations. The company aims to continue developing and releasing supportive infrastructure. Users holding staking assets from partner protocols will be able to exchange them for vFHE on the Mind Network platform and participate in FHE voting.
Previously, Mind Network introduced an FHE voting solution designed to ensure consensus and data security for AI and Proof-of-Stake (PoS) networks. This solution incorporates the concept of Total Governance Value (TGV), which separates voting rights from staking assets and allocates them to networks or systems requiring governance and consensus. By holding staking assets, users can obtain vFHE and engage in securing the consensus of other networks they wish to support.
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