ZK Tech Developer Nil Foundation Raises $22 Million with Polychain Capital Involved

ZK tech developer Nil Foundation closed a $22 million round of funding at a $220 million valuation led by Polychain Capital with participation from Blockchain Capital, Starkware and Mina Protocol.

The new funds will be used to further roll-out the proof market protocol and build out solutions that improve the speed, security and reliability of data on blockchains.

Founded in 2018, Nil is the developer of the Proof Market protocol, which enables Layer 1 and Layer 2 blockchains and protocols to generate zero-knowledge (ZK) proofs on demand.