ZK coprocessor Brevis Network completes $7.5 million seed round of financing, led by Polychain Capital and Binance Labs

ZK coprocessor Brevis Network has completed a $7.5 million seed round of financing, led by Polychain Capital and Binance Labs, with participation from IOSG Ventures, Nomad Capital, Bankless Ventures, Hashkey and several undisclosed angel investors. According to reports, Brevis Network is a startup that uses zero-knowledge (ZK) technology for off-chain computing. Co-founder Michael Dong told that Brevis began raising funds for the seed round in June and ended in September. Dong added that this round of financing was token financing, but declined to comment on the post-investment valuation. Brevis's ZK coprocessor is currently in the test mainnet stage, and partners such as Kwenta, JoJo Exchange and Trusta are already using it. Other DeFi protocols, including PancakeSwap, Frax, Gamma, Quickswap, Mask Network, 0G, Bedrock and Mellow Finance, are also building products and features driven by Brevis. Dong said: "We are now focused on launching a decentralized prover network, which will allow any prover to join and process the workload of applications built with Brevis." When asked whether Brevis will launch its token at that time, Dong said: "We don't have any details about the token yet." In the meantime, Dong added that Brevis's "SpaZK verifiable AI" product is still under active development and will be released in future stages. Brevis currently has 12 employees and is looking to hire senior marketing and R&D professionals. (The Block)