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Tuesday, June 2, 2020

Integritee AG secures $2 million in Seed Round

17 June 2021, Zurich – Integritee, a Swiss confidential computing solution, today announced it has raised $2 million in seed capital from a group of globally recognized blockchain investors. The funding comes as integritee revealed that it is launching a crowdloan initiative to secure a parachain on the Kusama network in the upcoming slot auctions.

The funding was led by LD Capital, one of Asia’s foremost VC investors in the blockchain sector. Other major investors include blockchain and digital asset investment firms such as AU21 Capital, DFG, FBG, SevenX Ventures, OKEx Blockdream Ventures, GFS Group, NGC Ventures, CDI, Kryptonite Capital, Alves Venture and Hotbit . As integritee's solution is close to production-ready, it will use the capital raised to drive adoption and build up the ecosystem.

LD Capital Investment Partner Xi Li said:

“integritee is perfectly positioned to tackle the vast market for confidential computing, both within the Polkadot ecosystem and in the enterprise market generally. The team combines expertise in cryptography, engineering, finance and business. We are confident that integritee can become the leader in blockchain-enabled confidential computing. We are extremely proud to lead this round and will continue to support the team firmly throughout their journey.”

IntegriTEE’s objective is to provide a trusted technical foundation in any situation where multiple parties need to process potentially sensitive data. The platform is a powerful hybrid of public blockchain and confidential computing which can be deployed in many sectors and circumstances — from healthcare and decentralized finance to supply chain management. Decentralized crypto exchanges for instance can use the platform to minimize the risk of frontrunning, while allowing users to retain sovereignty of their digital assets. The network could also be used as the basis for a secure, confidential bridge between private messaging apps like Signal and Threema.

integritee co-founder Alain Brenzikofer said:

"We have traded privacy for convenience for far too long, to the point where it feels like we no longer have a choice. But privacy is not dead. As the building blocks are being laid for the new internet, integritee is laying the foundation for data sovereignty. Our goal is to ensure that consumers and businesses don’t have to cede control of their private data to benefit from the latest tech.”

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