MPCH Labs Raised $40 Million In A Series A Round

MPCH Labs, a technological venture studio, has launched a $40 million Series A financing to build the next generation of multi-party computing (MPC) technology.

According to a corporate announcement on Tuesday, the financing round is led by Liberty City Ventures and includes additional investors such as trading firms QCP Capital and LedgerPrime, as well as VC players such as Animoca, Human Capital, and Oak HC FT.

Multi-party computing (MPC) allows numerous participants to collaborate on a computation without ever disclosing the secret data that each has. The technique is frequently utilized in self-custody solutions, where many devices may confirm a transaction, eliminating the possibility of a single point of failure.

Miles Parry, co-founder, and CEO of MPCH discovered MPC technology while operating an institutional custodial company named Vo1t. Genesis custody was formed when the company was bought by the trading firm Genesis.

Parry, who co-founded MPCH alongside Cat Le-Huy, the startup’s chief technology and product officer, said:

“I’ve gathered a lot of experience through the marketplace, especially in traditional as well as the crypto space and as I saw the pitfalls, actually decided instead of trying to adapt the existing MPC solutions out there, I’m going to build it from the ground up.”

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