MPCH Labs Raises $40 Million for Multi-Party Computation Technology

Tech venture studio MPCH Labs announced a $40 million Series A round led by Liberty City Ventures.

Investors in the startup included trading firms QCP Capital and LedgerPrime, as well as venture players Animoca, Human Capital and Oak HC FT.

MPCH Labs develops products based on the Multi-Party Computation (MPC) technology. This cryptographic protection method allows private keys to be split and stored in a decentralized manner. With it, multiple devices can co-sign a transaction, preventing a single point of failure.

MPCH Labs has used the technology to create its own MPC6 engine, enabling multiple parties to sign, authorize and view actions in a single wallet.

“The MPC6 engine contains six layers. They are a hybrid of Web2 and Web3 technology stacks, including distributed credentials, hardware security modules (HSM), Public Key Infrastructure (PKI), Intel Software Guard Extensions, and zero-knowledge proofs,” the developers said.

Now the startup is preparing to launch its first product Fraction – a configurable operating platform for secure management of digital assets, wallets and workflows. Its release is expected in Q4 2022.

According to the developers, the first customers of the product will be crypto firms, market makers, funds and asset managers. In the future it will be available to ordinary consumers.

The MPC6 white paper is expected to be released soon after the Fraction beta version.

Earlier ForkLog reported that Space and Time, a Web3 data platform, raised strategic funding of $20 million from major investors led by the Microsoft M12 fund.

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