Mind Network, a pioneering platform at the forefront of data security and privacy in the Web3 ecosystem, is pleased to announce the successful completion of its seed round fundraising, raising $2.5 million. The funding round was participated by Binance Labs, Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital and other notable investors. Binance Labs, the VC and incubation arm of Binance, invested in Mind Network through the Binance Labs Incubation Program.
Mind Network has emerged as a leader in the Web3 space, empowering users with end-to-end encryption and giving them complete control over their personal data, financial transactions and user interactions. By combining the principles of zero-trust security with zero-knowledge proofs and home-brewed adaptive fully homomorphic encryption techniques, the platform ensures robust protection and access control within the decentralized ecosystem.
Mason Song, CEO of Mind Network, said:
“We are thrilled to have the support and confidence of such esteemed investors. This funding will enable us to develop our groundbreaking technology further and accelerate the adoption of our platform in various industries, ensuring data privacy and ownership for users worldwide.”
As an incubatee of Binance Incubation Program Season 5, Mind Network has benefited from the expertise and guidance of Binance Labs. Additionally, the company has been selected for the prestigious Chainlink BUILD Program, reinforcing its commitment to building a Web3 ecosystem grounded in data privacy and ownership.
Oliver Birch, global head of Chainlink BUILD, commented:
“We are excited to have Mind Network as part of our ecosystem. Its innovative approach to data security aligns with our mission, and we look forward to collaborating with the Mind Network team to shape the future of decentralized applications.”
Mind Network has established strategic partnerships with industry giants, including Chainlink, Consensys and Arweave, providing a solid foundation for the platform’s growth. These partnerships have also enabled Mind Network to acquire early supporters, including global banks, insurance companies, and various DApps and protocols.
Mind Network has been able to build a strong team with key positions held by highly experienced leaders in their fields. Chief technical officer, George Shao, was a researcher at Cambridge University and has had his research in cryptography adopted by the United Kingdom government and high-street banks, and Dennis Song, the chief security officer, was the first whitehat hacker to hack Tesla in 2014. The rest of the team comprises serial entrepreneurs, award-winning scientists and Web3 marketing veterans.
With the completion of the seed-funding round and the continued support of its partners and investors, Mind Network is well positioned to advance its mission of enhancing data security, privacy, and ownership in the Web3 era.