Masa Network Secures $5.4 Million in Seed Round to Establish a Personal Data Network on Avalanche

Masa Network, a platform dedicated to building a zero-knowledge (zk) data network and marketplace, announced the closure of a $5.4 million seed round on Tuesday, January 23. This round of funding was led by Anagram, a venture capital platform co-founded by Lily Liu, President of Solana Foundation, and Joe Eagan, former President of Polychain. Other key participants in the seed round include Digital Currency Group, Avalanche Blizzard Fund, GoldenTree, and OP Crypto.

The latest seed funding significantly adds to the $3.5 million raised by Masa in a pre-seed round in 2022, bringing the total to $9.2 million. These funds are intended to be utilized for the development of a decentralized zk network for personal data, which Masa plans to establish as a subnet on Avalanche. The platform’s vision is to create a “decentralized Google,” empowering individuals to control and monetize their own data through a decentralized marketplace. Masa’s co-founder, Calanthia Mei, emphasizes the importance of data sovereignty, stating, “Masa lets you control and monetize your data on a decentralized marketplace. Own your data, control its use, get paid. The future is data sovereignty. The power is yours with Masa.”

Since its launch in August 2022, Masa’s zero-knowledge powered data network has already been integrated by prominent crypto projects such as Avalanche, Injective, Celo, and QuickSwap.

Masa raised $3.5 million in a pre-seed round in 2022, and the seed funding brings the total to $9.2 million.
Masa will use these funds to build its decentralised zk network for personal data on Avalanche.

Masa Network, a platform building a zero-knowledge (zk) data network and marketplace, in its seed round, announced a $5.4 million fundraise according to an announcement on Tuesday, January 23.

Anagram, a venture capital platform co-founded by Lily Liu (Solana Foundation President) and Joe Eagan (former Polychain President), led the seed round. Other participants include Digital Currency Group, Avalanche Blizzard Fund, GoldenTree, and OP Crypto among others.

The seed round adds to the $3.5 million Masa raised in a pre-seed funding round closed in 2022. With this funding, the platform has now raised a total of $9.2 million.

Masa plans to use the new capital injection to build its decentralized network for personal data, which it dubs a “decentralized Google.” Details published in a Medium post state that Masa expects to launch the network as a subnet on Avalanche.

“Masa lets you control and monetize your data on a decentralized marketplace. Own your data, control its use, get paid. The future is data sovereignty. The power is yours with Masa,” Calanthia Mei, co-founder of Masa Network, said.

Since its launch in August 2022, Masa’s zero-knowledge powered data network has been integrated by top crypto projects such as Avalanche, Injective, Celo and QuickSwap.

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Summary:

Masa Network has successfully raised $5.4 million in a seed round to support the establishment of a personal data network on Avalanche. This funding, led by Anagram, will enable Masa to build a decentralized zk network for personal data and marks a significant step towards achieving their vision of creating a decentralized Google.

FAQs:

What is Masa Network?

Masa Network is a platform dedicated to building a zero-knowledge (zk) data network and marketplace.

Who led the seed round funding for Masa Network?

The seed round funding for Masa Network was led by Anagram, a venture capital platform co-founded by Lily Liu, President of Solana Foundation, and Joe Eagan, former President of Polychain.

How much total funding has Masa Network raised so far?

Masa Network had previously raised $3.5 million in a pre-seed round, and the recent seed funding of $5.4 million brings the total to $9.2 million.

Which projects have integrated Masa’s zero-knowledge powered data network?

Solid crypto projects such as Avalanche, Injective, Celo, and QuickSwap have already integrated Masa’s zero-knowledge powered data network since its launch in August 2022.