Crypto Privacy Startup Nucleo Raised $4 Million In Seed Funding

Nucleo, the first private, non-custodial, auditable multi-sig on Ethereum that provides the privacy infrastructure required for a new wave of organizations to go on-chain, has raised $4 million in seed funding.

Aztec Network, Aleo, and Espresso Systems were among the major leaders in privacy infrastructure and zero-knowledge cryptography that participated in the round, which was jointly headed by Bain Capital Crypto and 6th Man Ventures.

Matt Wyatt, Co-Founder and Chief Executive Officer of Nucleo, said in a statement:

“What started as a fun side project, quickly turned into critical technology that unlocks an entirely new design space for the future of organizations to innovate around ownership, financing, employment, rewards and more.”

The company aims to provide a zero-knowledge multi-signature solution enabling businesses to conduct transactions on the Ethereum blockchain. Multi-sig, also known as multi-signature, is a type of digital signature used in crypto wallets that calls for many users to approve and submit transactions.

Stefan Cohen, Partner at Bain Capital Crypto, stated:

“Organizations have been looking for a privacy solution like Nucleo to bring trust, auditability, and accountability to the blockchain.”

With the money, the project hopes to expand its team, add more blockchain network integrations, and create a service that allows companies to access DeFi privately.

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