Mind Network Secures $2.5 Million in Seed Funding from Binance Labs and Other Prominent VCs

Mind Network
3 min readJun 29, 2023

Mind Network, a cutting-edge platform leading the way in data security and privacy within the Web3 ecosystem, is delighted to announce the successful completion of its seed round fundraising, raising $2.5 million. The funding round included participation from Binance Labs, Comma3 Ventures, SevenX Ventures, HashKey Capital, Big Brain Holdings, Arweave SCP Ventures, Mandala Capital, and other distinguished investors. Binance Labs, the VC and Incubation arm of Binance, made their investment in Mind Netwrok through the Binance Labs Incubation Program.

Mind Network has established itself as a frontrunner in the Web3 space, empowering users with end-to-end encryption and granting them full control over their personal data, financial transactions, and user interactions. By integrating the principles of Zero Trust Security, Zero Knowledge Proof, and their proprietary Adaptive Fully Homomorphic Encryption techniques, the platform ensures robust protection and access control within the decentralized ecosystem.

“We are thrilled to receive the support and confidence of such esteemed investors,” said Mason, CEO of Mind Network. “This funding will enable us to further advance our groundbreaking technology and expedite the adoption of our platform across various industries, ensuring global data privacy and ownership for our users.”

As a participant in Binance Incubation Program Season 5, Mind Network has benefited from the expertise and guidance of Binance Labs, the VC and incubation arm of Binance. Additionally, the company has been selected for the esteemed Chainlink BUILD Program, reinforcing their dedication to building a Web3 ecosystem rooted in data privacy and ownership.

“We are excited to welcome Mind Network to our ecosystem,” commented Oliver Birch, Global Head of Chainlink BUILD. “Their innovative approach to data security aligns with our mission, and we eagerly anticipate collaborating with them to shape the future of decentralized applications.”

Mind Network has formed strategic partnerships with industry giants, including Chainlink, Consensys, and Arweave, providing a solid foundation for the platform’s growth. These partnerships have also facilitated early support from global banks, insurance companies, and various dApps and protocols.

Mind Network has assembled a formidable team comprising accomplished leaders in their respective fields. The Chief Technology Officer, George, conducted research at Cambridge University, and his cryptographic research has been adopted by the United Kingdom government and major banks. Dennis, the Chief Security Officer, made history as the first white hat hacker to breach Tesla’s security in 2014. The rest of the team consists of seasoned entrepreneurs, acclaimed scientists, and Web3 marketing veterans.

With the successful completion of the seed funding round and the ongoing support from partners and investors, Mind Network is well-positioned to advance its mission of enhancing data security, privacy, and ownership in the Web3 era.

About Mind Network

Mind Network is the first FHE Restaking Layer for POS and AI Networks. Our framework operates as an FHE validation network, bringing secure computation and consensus to AI, DePIN, EigenLayer AVS, Bittensor Subnet, and many critical POS networks. Mind Network’s solution has found initial product-market-fit with projects such as IO.Net, MyShell, Bittensor, AIOZ, Nimble AI, ChainLink, Connext and more adopting its solution. It has achieved 650k+ active users and 3.2M+ transactions processed on its testnet.

Mind Network is backed by Binance Labs, Hashkey, Big Brain, Chainlink, Comma3, SevenX, and received an Ethereum grant to conduct research on practical implementations for FHE technology on Ethereum.

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Mind Network

An FHE (Fully Homomorphic Encryption) Restaking Layer for POS and AI Networks. https://linktr.ee/mindnetwork_xyz