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Liberty City Ventures leads $40 million Series A
MPC technology allows multiple people to access the same data without revealing private information Other round investors include QCP Capital, Mantis VC and Human Capital Technology venture studio MPCH Labs, which develops multiparty computing (MPC) technology, has closed a $40 million Series A led by Liberty City Ventures. Other investors that participated in the round include QCP Capital, Mantis VC, Human Capital, Global Coin Research, LedgerPrime, Finality Capital, Oak HC FT, Polygon Studios, Quantstamp and Animoca Brands. Chairman Miles Parry and Chief Technology Officer Cat Le-Huy, founders of MPCH, conceived their company with the intention of...
Liberty City Ventures leads $40 million Series A
- Die MPC-Technologie ermöglicht es mehreren Personen, auf dieselben Daten zuzugreifen, ohne private Informationen preiszugeben
- Weitere Rundeninvestoren sind QCP Capital, Mantis VC und Human Capital
Technology venture studio MPCH Labs, which develops multiparty computing (MPC) technology, has closed a $40 million Series A led by Liberty City Ventures.
Other investors that participated in the round include QCP Capital, Mantis VC, Human Capital, Global Coin Research, LedgerPrime, Finality Capital, Oak HC FT, Polygon Studios, Quantstamp and Animoca Brands.
Chairman Miles Parry and Chief Technology Officer Cat Le-Huy, founder of MPCH, designed their company with the intention of making it more secure than the traditional MPC architecture.
In general, MPC technology is a cryptographic tool that allows multiple people to evaluate a calculation without revealing private information - so no one person can see another party's data. The technology is used by institutional custody providers such as: Fire blocks and Qredo as well as wallet dapps from Coinbase and ZenGo.
After noticing how MPC technology was used in various areas of the crypto industry, Parry and Le-Huy wanted to develop an engine that was more secure than the traditional MPC architecture.
“We built MPC6, our iteration of MPC,” Parry said in an interview with Blockworks.
The MPC6 engine was designed to be more secure than traditional MPC architecture – allowing multiple signers, authorizers, approvers and viewers in the same wallet, according to Parry.
“And with this technology, we are launching Fraction, a wallet service provider that securely manages digital assets cryptographically and on a zero-knowledge basis,” said Parry.
Developed and beta tested with over 30 different design partners, Fraction will be MPCH's first product, expected to launch in the next few months.
Although Parry did not disclose the exact number of customers who have expressed interest in the product, he noted that "it has been very gratifying to see how many customers have come to us and said we would like to use your products."
The recent $40 million fundraising will allow MPCH to further scale its products, Parry said.
“Now we are launching and developing functions, products and features for our customers,” he said. “We want to make it affordable for small startups and give them the same tools as large institutions.”
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The post Liberty City Ventures Leads $40M Series A is not financial advice.