zCloak Network Closes $1.3M Seed Round Led by IOSG and Hypersphere

zCloak Network, a Polkadot-based and privacy-focused computing platform, announced it closed a $1.3M seed round led by IOSG Ventures and Hypersphere Ventures. Other notable participants include KR1, DFG, Advanced Blockchain AG, PAKA Fund and Digital Renaissance Foundation.

zCloak Network enables computation and analysis of personal data without sending them to 3rd party servers with the aim of preventing private data from being stolen or misused. The project uses a zk-STARK-based virtual machine for general-purpose computations. It can provide Zero-Knowledge Proof as a Service to other parachains in Polkadot/Kusama.