Zcash wallet builder ZODL raises $25M seed as Paradigm's Huang backs dev fund
What's the deal? The Zcash Open Development Lab (ZODL) has raised $25 million in a seed round to fund development on the privacy-focused cryptocurrency ZcashDealroom has a profile for this one. Try Dealroom →. Paradigm co-founder Matt Huang is publicly backing stronger funding for the project.
Why now? Huang is calling for a more robust Zcash dev fund as ZODL closes its seed round, signalling growing institutional interest in the network's development.
How big is the round? At $25 million, this seed lands in the 99th percentile of all-time US fintech seed rounds, based on a sample of 8,697 deals. That puts it well above the typical early-stage raise for the sector.
What's the endgame? ZODL is focused on open development for Zcash, a cryptocurrency built around privacy. The funding is aimed at advancing that work.
The signal: A seed round this large, paired with a public endorsement from a Paradigm co-founder, points to renewed attention on privacy-focused crypto infrastructure and the funding models that sustain its development.
Image credit: Generated with Gemini
