NuLink Completes New Round of Strategic Financing, Total Project Financing Increases to US$11.4 Million

2024-05-08 21:14

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NuLink, a zk-provable data encryption solution focused on data security protection, has raised $1.6 million in its new round of strategic financing. The company will use the funds to advance technology, expand capabilities, and education and training.

This round of financing was led by DWF Labs, Poolz, and ViaBTC, with participation from CheckPush, 0xwilds, Coinvestor, 0xbull, Alpha Capital, MNST Platform, and Aza Ventures, joining NuLink’s impressive list of investors, which includes Binance, which participated in previous rounds. Labs, OIG, Maven Crypto, and Chateau Crypto.

NuLink recently completed a significant financing round through Fjord’s Liquidity Bootstrapping Pool (LBP), raising approximately $5.3 million. This contribution highlights the growing confidence in NuLink’s innovative approach to protecting sensitive data. To date, NuLink has raised a total of $11.4 million, positioning it as a leader in the development and enhancement of secure Web3 applications.

What is NuLink?

NuLink is a game changer for dApps in Web3. It focuses on protecting data privacy and provides developers with powerful tools to ensure the security of their applications.

NuLink combines blockchain technology with advanced security methods such as proxy re-encryption and attribute-based encryption. It also uses secure computing techniques such as zero-knowledge proofs, secure multi-party computation, and fully homomorphic encryption. Together, these technologies make NuLink essential for any dApp that needs to process sensitive data while maintaining privacy.

Team Statement

“At NuLink, our commitment to building a secure and innovative future has never been stronger. We understand the importance of trust in achieving our goals, and we are committed to maintaining the highest standards of security and transparency. We are working on new projects that will not only enhance our capabilities, but also ensure that the needs and expectations of our community are met. I am excited about the future, and I want to assure everyone that we are working every day to create a safer and more connected world.”

-Daniel Nilsson, Co-founder of NuLink

“I am excited about our progress. Our team is at the forefront of technological innovation and is committed to providing safe and reliable solutions that enrich the experience of our community. We value the trust our users have placed in us and are excited to launch a series of initiatives in the future that will deepen our engagement and enhance users' experience with our brand. Together, we are setting the stage for a future of endless possibilities.”

-Anna L., Chief Marketing Officer of NuLink

Funds to be used to upgrade technology and compliance

A large portion of the funds will be used to implement advanced security measures. This requires the use of the best cryptographic techniques and security frameworks to enhance NuLink's security protocols.

Another key area is compliance and regulatory upgrades. NuLink aims to ensure full compliance with regulatory standards in the decentralized space and will need to invest in legal counsel, compliance frameworks, and regulatory audits to maintain trust and legitimacy in its operations.

In addition, the funds will fuel research and development efforts aimed at pushing the boundaries of privacy technology. NuLink plans to invest in research initiatives to develop innovative privacy solutions, advancing technologies such as zero-knowledge proofs and secure multi-party computations to provide users with unparalleled data privacy assurances.

In addition, the expansion of secure storage facilities will provide the infrastructure needed to effectively protect sensitive data. In addition to these technological advances, resources will be dedicated to education and training programs to provide developers and users with the knowledge needed to optimally use NuLink's capabilities.

Finally, we will invest in strengthening NuLink’s incident response capabilities, ensuring that NuLink quickly and effectively handles any security issues that may arise, thereby fulfilling NuLink’s commitment to maintaining the integrity and security of its platform.

Looking Ahead

“The best way to predict the future is to create it.”

NuLink is incredibly excited about the future. With these new funds, it is preparing to take its business to the next level. The global data privacy market is on a rapid growth trajectory and is expected to grow exponentially by 2031, reaching a market size of $43.56 billion, at a CAGR of 40.9% during the forecast period (2024-2031). NuLink is excited to be a key player in this booming market.

Its target audience ranges from enterprise organizations to data privacy professionals, Web3 developers, and cryptography enthusiasts, reflecting the different industries that can benefit from privacy solutions. Whether it's secure file sharing in healthcare or finance, creating a private and trusted environment for social networking, improving collaboration platforms by adding a layer of security, or protecting IoT data sharing, NuLink is committed to providing privacy-centric technology to meet a wide range of user needs.

Looking ahead, NuLink is ready to continue innovating privacy technology and is excited to meet the challenges ahead, where data privacy is not only a priority, but a standard practice, and we welcome the opportunity to lead the way.