ZkPass Secures $12.5 Million In Series A Funding, Valued At $100 Million

According to PANews, privacy-protecting data verification protocol zkPass has successfully raised $12.5 million in a Series A funding round, bringing its valuation to $100 million. The investment round saw participation from notable investors including dao5, Animoca Brands, and Flow Traders. The funding was conducted through a Simple Agreement for Future Tokens (SAFT) structure, with zkPass planning to launch its token in the first quarter of next year. Utilizing zero-knowledge proof technology, zkPass enables users to verify information such as identity or financial records without sharing specific data.