Soda Labs, which builds privacy infrastructure for public blockchains, has raised a $3 million seed round funded entirely by NextBlock, according to a company release distributed October 8.
The company says its garbled-circuit multiparty computation technology has processed more than 100 million transactions on COTI and is deployed in Zoniqx, a tokenization application, and PriveX, a perpetuals exchange. Proceeds will go to go-to-market work, validator-network and blockchain expansion, hiring, and integrations with banks, payments firms and tokenization platforms.
The transaction counts and performance claims are company-reported and unverified, and PriveX's $20 billion-plus trading volume is application context, not Soda revenue. Several pilots with financial and infrastructure organizations are under way, but none is named.