Privacy-focused Ola startup raises $3 million in seed funding

A privacy-focused Web3-startup Ola raised $3 million in a seed funding round. The Block reports.

The round was led by Web3.com Ventures and Foresight Ventures. Among other investors: Token Metrics Ventures, LD Capital and Catcher VC.

\”Our ultimate goal is to make privacy a fundamental right in the digital era, especially for Web3 users,\” said Ola Ocean Chen, CEO of Ola.

The company offers \”optional\” privacy using hybrid ZK-rollups (ZK-ZKVM).

The startup plans to conduct a network beta test in Q3 2023. After that, a public testnet is planned. The mainnet, according to the project’s roadmap, is scheduled to launch in Q1 2024.

In June, venture deals in the crypto industry fell by 71%.