Soda Labs raises $3M seed to scale blockchain privacy from pilots to production
What's the deal? Soda LabsDealroom has a profile for this one. Try Dealroom → has raised $3 million in a seed round fully funded by crypto investor NextBlock. The Luxembourg-based company builds programmable privacy infrastructure for financial activity on public blockchains.
What does it do? Over two and a half years, Soda has developed a cryptographic privacy engine combining garbled circuits with multiparty computation. It relies on standard cryptography such as AES and SHA256, and runs on ordinary cloud CPUs with no specialised hardware.
Traction: Soda's technology has processed more than 100 million transactions on the COTIDealroom has a profile for this one. Try Dealroom → network, supporting tokenisation platform ZoniqxDealroom has a profile for this one. Try Dealroom → and perpetuals exchange PriveXDealroom has a profile for this one. Try Dealroom →. PriveX alone has handled over $20 billion in trading volume.
What's the endgame? The investment comes as Soda extends its architecture to Soda Bubble, a chain-agnostic coprocessor for programmable privacy. Bubble is going live across major EVM ecosystems including Ethereum, Polygon, Arbitrum, and Base, with Solana support underway.
What's it for? The capital will fund Soda's go-to-market strategy, validator network expansion, team growth, and integrations with banks, payment companies, and tokenisation platforms. The company is running several undisclosed pilots it aims to convert into production deployments.
"Soda already had a working product and paying customers," said Pieter van Poecke, founder and general partner of NextBlock. He added that the company's "differentiated technical IP, deeply technical founding team and strong commercial instincts" give it a compelling foundation.
Why now? Co-founder and chief executive officer Avishay Yanai framed the gap bluntly: "Public blockchains already have the liquidity, users and financial applications. What they lack is a way for regulated money to move without showing everyone everything."
The signal: Modest in size, this $3 million round reflects a growing bet that regulated institutions will only move onchain if they can keep transaction data private while staying on public networks. Soda's next test is turning pilots with banks and payment firms into paying production deployments.
Read more: techstartups.com
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