Demox Labs Launches Leo Wallet and Raises $4.5M to Build Zero Knowledge Secure Blockchain Infrastructure

• Funding marks the company’s debut to support the development of privacy-focused blockchain infrastructure and innovation

• Leo Wallet is the first to allow interactions with programmable zero-knowledge blockchains from a user’s browser

SAN FRANCISCO

,

1 June 2023

/PRNewswire/ —

a pioneer in the creation of zero-knowledge technology, announced today that it has erected a

4.5 million dollars

pre-seed funding round and debuted

a first of its kind focused on privacy

cryptocurrency

wallet for use with Aleo blockchain. The funding round was led by HackVC with participation from DCVC, Amplify Partners, Coinbase Ventures, CRV, OpenSea and CSquared. The funding will be used to support the creation of zero-knowledge blockchain infrastructure for businesses, deploy privacy-based frameworks for innovative developers, and promote Leo Wallet’s privacy technology and interoperability with other blockchains.

(ZKP) allow some information to be verified as true without revealing the information itself using complex encryption. The applications of this technology include digital identity protection, privacy-preserving transactions, shielded transactions, global compliance and ownership verification.

“Personal privacy and sovereignty are cornerstones of any democracy. Today, citizens all over the world lose their privacy to comply with necessary laws and regulations. Moreover, modern technologies require personalization, but this personalization has come with the cost of sacrificing privacy. Leo Wallet is just one example on how ZKP will empower individuals to use modern technologies and maintain legal and regulatory compliance without sacrificing privacy,” said

Barron Caster

, CEO and co-founder of Demox Labs. “We’re eager to bring this much-needed level of privacy to blockchain infrastructure, starting with Leo Wallet. Sharing sensitive data will soon become an option, not a requirement, and businesses in highly regulated industries will be able to innovate while maintains the privacy of their customers.”

Leo Wallet was built from the ground up for blockchains with zero knowledge and had more than 40,000 customers registered on the waiting list when it was made available for download and use on the Aleo blockchain. Users now have the ability to generate ZKPs directly in their browsers, guaranteeing complete confidentiality and empowering developers to create innovative, privacy-first applications.

The

4.5 million dollars

the funding round will be used to further Demox Labs’ mission to increase control and protection of sensitive information through the use of ZKPs. This includes supporting Leo Wallet and its compatibility with other privacy-focused blockchains, creating new privacy frameworks for developers, and supporting the development of zero-knowledge technology for businesses. Part of the round was financed by notable investors in

crypto

and blockchain industries included

Santiago Santos

,

Sriram Krishnan

,

Ryan Selkis

OpenSea, Space Whale and venture decentralized autonomous organizations (DAOs): HoneyDAO and AngelDAO.

“The introduction of blockchain technology and popular cryptocurrencies ushered in a new era of financial independence, and now ZKP-based technology and infrastructure will push consumers and companies into a new era of information protection. The technology being developed today by Demox Labs makes them one of the first to recognize the importance of privacy and act on the capabilities of ZKP for both the public and businesses.” so

Ed Roman

, CEO of HackVC. “As the need for protection and privacy in the digital era increases, ZKPs will become a more significant technology across many domains. Our investment will enable Demox Labs’ continued growth as a leader in privacy-preserving blockchain technology development and infrastructure.”

Demox Labs’ work to expand the ZKP infrastructure and Leo Wallet unlocks access to an unparalleled level of privacy for users of this new technology. By improving privacy and security, ZKP technology will increase trust between individuals and institutions that can unlock new levels of economic activity. Leo Wallet was created to integrate with Aleo Blockchain, which plans to launch its mainnet later this year. Demox Labs plans to scale the Leo Wallet in the coming months for use with other blockchains without knowledge.

Download and use Leo Wallet today by visiting

and contact Demox Labs by visiting

.

Developers building decentralized applications for Aleo can find the Leo Wallet adapter code at

.

About Demox Labs

is pioneering the use of zero-knowledge proof to preserve user privacy and increase the use of zero-knowledge blockchain technology among individuals and businesses. Founded in 2022 and headquartered in

San Francisco

The company offers solutions for developers to create innovative products for zero-knowledge blockchains and launched its first public product, Leo Wallet, in the spring of 2023. Demox Labs raised a

4.5 million dollars

pre-seed funding round in May 2023, led by HackVC with participation from DCVC, Amplify Partners, Coinbase Ventures, CRV, OpenSea and CSquared. Follow along to stay updated with the latest developments from Demox Labs and Leo Wallet

@DemoxLabs

and

@LeoWallet

.

Media contact

BAM for Demox Labs

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SOURCE Demox Labs